Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Smith & Nephew plc (NYSE:SNN - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,405 shares of the medical equipment provider's stock after buying an additional 29,250 shares during the quarter. Smith & Nephew makes up 2.2% of Lorne Steinberg Wealth Management Inc.'s portfolio, making the stock its 16th largest position. Lorne Steinberg Wealth Management Inc. owned 0.06% of Smith & Nephew worth $7,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of SNN. Principal Securities Inc. grew its stake in Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 691 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Smith & Nephew by 36.5% in the 4th quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider's stock worth $41,000 after buying an additional 446 shares during the period. Hara Capital LLC lifted its holdings in shares of Smith & Nephew by 391.4% in the 4th quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock worth $60,000 after buying an additional 1,957 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Smith & Nephew during the first quarter valued at $73,000. Finally, GAMMA Investing LLC raised its holdings in shares of Smith & Nephew by 22.4% in the first quarter. GAMMA Investing LLC now owns 3,641 shares of the medical equipment provider's stock valued at $103,000 after acquiring an additional 666 shares in the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.
Smith & Nephew Trading Down 2.6%
NYSE SNN opened at $29.33 on Monday. Smith & Nephew plc has a 52 week low of $23.69 and a 52 week high of $31.72. The company has a 50 day moving average price of $27.95 and a 200 day moving average price of $26.86. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. The firm has a market cap of $12.84 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.26 and a beta of 0.68.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on SNN. Wall Street Zen upgraded shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 26th. HSBC lowered shares of Smith & Nephew from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Hsbc Global Res lowered Smith & Nephew from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Canaccord Genuity Group lifted their price target on Smith & Nephew from $27.00 to $28.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, UBS Group lowered Smith & Nephew from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.00.
Get Our Latest Analysis on SNN
About Smith & Nephew
(
Free Report)
Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.
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