Smith & Nephew plc (SNN) Stake Lifted by Raymond James & Associates

Raymond James & Associates lifted its position in Smith & Nephew plc (NYSE:SNN) by 7.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,587 shares of the medical equipment provider’s stock after purchasing an additional 2,109 shares during the period. Raymond James & Associates’ holdings in Smith & Nephew were worth $1,185,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SNN. Financial Gravity Wealth Inc. bought a new position in shares of Smith & Nephew in the first quarter worth approximately $123,000. Checchi Capital Advisers LLC bought a new position in shares of Smith & Nephew in the second quarter worth approximately $204,000. Alps Advisors Inc. bought a new position in shares of Smith & Nephew in the second quarter worth approximately $302,000. SG Americas Securities LLC bought a new position in shares of Smith & Nephew in the second quarter worth approximately $372,000. Finally, Price Wealth Management Inc. grew its holdings in shares of Smith & Nephew by 29.2% in the second quarter. Price Wealth Management Inc. now owns 14,860 shares of the medical equipment provider’s stock worth $558,000 after purchasing an additional 3,360 shares during the last quarter. Hedge funds and other institutional investors own 8.71% of the company’s stock.

SNN has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Smith & Nephew from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, August 29th. UBS Group cut shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Wednesday, August 8th. Canaccord Genuity restated a “buy” rating and issued a $42.00 target price on shares of Smith & Nephew in a report on Monday, August 6th. Finally, HSBC cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Smith & Nephew has an average rating of “Hold” and an average target price of $41.00.

Shares of SNN stock opened at $34.53 on Wednesday. Smith & Nephew plc has a 52 week low of $33.79 and a 52 week high of $39.85. The firm has a market capitalization of $16.22 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 3.05 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 2.13 and a debt-to-equity ratio of 0.31.

About Smith & Nephew

Smith & Nephew plc designs, develops, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

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Institutional Ownership by Quarter for Smith & Nephew (NYSE:SNN)

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