Smith & Nephew plc (NYSE:SNN) Short Interest Up 28.4% in November

Smith & Nephew plc (NYSE:SNN) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,120,000 shares, an increase of 28.4% from the October 31st total of 2,430,000 shares. Based on an average daily volume of 799,500 shares, the short-interest ratio is currently 3.9 days. Approximately 0.7% of the shares of the company are short sold.

Smith & Nephew Stock Performance

Smith & Nephew stock opened at $25.78 on Monday. Smith & Nephew has a 1 year low of $23.65 and a 1 year high of $31.72. The firm’s 50 day moving average price is $27.58 and its two-hundred day moving average price is $27.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51.

Hedge Funds Weigh In On Smith & Nephew

A number of hedge funds have recently modified their holdings of SNN. International Assets Investment Management LLC acquired a new position in shares of Smith & Nephew in the 3rd quarter valued at $792,000. Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Smith & Nephew by 53.6% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock worth $5,725,000 after buying an additional 80,650 shares during the period. Sanctuary Advisors LLC purchased a new position in Smith & Nephew during the 2nd quarter worth approximately $627,000. Bank of Montreal Can grew its holdings in shares of Smith & Nephew by 355.8% during the second quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock valued at $31,059,000 after buying an additional 964,762 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Smith & Nephew in the 1st quarter valued at about $2,524,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on SNN shares. Berenberg Bank cut Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com cut Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Friday, November 1st.

About Smith & Nephew

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.