Smith & Nephew plc (NYSE:SNN) Sees Significant Increase in Short Interest

Smith & Nephew plc (NYSE:SNN - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 2,910,000 shares, a growth of 54.8% from the May 15th total of 1,880,000 shares. Based on an average daily volume of 839,100 shares, the short-interest ratio is currently 3.5 days. Approximately 0.7% of the shares of the company are sold short.

Smith & Nephew Price Performance

Shares of NYSE:SNN traded down $0.12 during mid-day trading on Monday, reaching $29.27. The stock had a trading volume of 816,430 shares, compared to its average volume of 800,235. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The company has a market cap of $12.82 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.26 and a beta of 0.68. Smith & Nephew has a 1 year low of $23.69 and a 1 year high of $31.72. The business's 50 day moving average price is $28.04 and its 200 day moving average price is $26.88.

Wall Street Analyst Weigh In

Several research firms have issued reports on SNN. Hsbc Global Res lowered Smith & Nephew from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. UBS Group lowered Smith & Nephew from a "buy" rating to a "neutral" rating in a report on Wednesday, March 12th. Wall Street Zen raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on Smith & Nephew from $27.00 to $28.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, HSBC lowered Smith & Nephew from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Smith & Nephew has an average rating of "Hold" and an average target price of $28.00.

Institutional Investors Weigh In On Smith & Nephew

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC raised its position in Smith & Nephew by 63.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 406 shares during the period. Richards Merrill & Peterson Inc. raised its position in Smith & Nephew by 500.0% during the first quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 1,000 shares during the period. Principal Securities Inc. raised its holdings in shares of 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 buying an additional 691 shares during the period. National Bank of Canada FI raised its holdings in shares of Smith & Nephew by 36.5% in the fourth 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. Finally, Bessemer Group Inc. raised its holdings in shares of Smith & Nephew by 3,471.4% in the first quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock worth $49,000 after buying an additional 1,701 shares during the period. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew Company Profile

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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