First Trust Direct Indexing L.P. Boosts Position in Smith & Nephew plc (NYSE:SNN)

First Trust Direct Indexing L.P. raised its stake in Smith & Nephew plc (NYSE:SNN) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,659 shares of the medical equipment provider’s stock after buying an additional 626 shares during the period. First Trust Direct Indexing L.P.’s holdings in Smith & Nephew were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Brandes Investment Partners LP raised its stake in shares of Smith & Nephew by 20.5% during the second quarter. Brandes Investment Partners LP now owns 1,373,051 shares of the medical equipment provider’s stock valued at $34,002,000 after acquiring an additional 233,293 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Smith & Nephew by 355.8% in the 2nd quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock worth $31,059,000 after buying an additional 964,762 shares during the period. Hsbc Holdings PLC grew its position in shares of Smith & Nephew by 18.9% during the 2nd quarter. Hsbc Holdings PLC now owns 548,691 shares of the medical equipment provider’s stock worth $13,607,000 after buying an additional 87,360 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Smith & Nephew by 58.2% in the second quarter. Dimensional Fund Advisors LP now owns 524,602 shares of the medical equipment provider’s stock worth $12,995,000 after acquiring an additional 193,046 shares during the period. Finally, Deprince Race & Zollo Inc. grew its holdings in Smith & Nephew by 94.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 239,245 shares of the medical equipment provider’s stock worth $5,928,000 after acquiring an additional 116,078 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNN. StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday.

Smith & Nephew Price Performance

NYSE SNN opened at $25.28 on Tuesday. The firm’s fifty day simple moving average is $29.87 and its two-hundred day simple moving average is $27.85. The firm has a market capitalization of $11.05 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.10 and a beta of 0.85. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Smith & Nephew plc has a 12-month low of $23.65 and a 12-month high of $31.72.

Smith & Nephew Profile

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.