Moran Wealth Management LLC Cuts Position in Smith & Nephew plc (NYSE:SNN)

Moran Wealth Management LLC trimmed its stake in Smith & Nephew plc (NYSE:SNN) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,673 shares of the medical equipment provider’s stock after selling 1,721 shares during the period. Moran Wealth Management LLC’s holdings in Smith & Nephew were worth $5,938,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Argonautica Private Wealth Management Inc. raised its holdings in Smith & Nephew by 6.3% in the second quarter. Argonautica Private Wealth Management Inc. now owns 10,244 shares of the medical equipment provider’s stock worth $254,000 after purchasing an additional 605 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in Smith & Nephew by 6.9% during the third quarter. First Trust Direct Indexing L.P. now owns 9,659 shares of the medical equipment provider’s stock valued at $301,000 after acquiring an additional 626 shares during the last quarter. Inspire Advisors LLC boosted its stake in Smith & Nephew by 3.0% in the second quarter. Inspire Advisors LLC now owns 22,286 shares of the medical equipment provider’s stock valued at $552,000 after acquiring an additional 639 shares in the last quarter. Rhumbline Advisers boosted its stake in Smith & Nephew by 8.6% in the second quarter. Rhumbline Advisers now owns 10,365 shares of the medical equipment provider’s stock valued at $257,000 after acquiring an additional 819 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in Smith & Nephew by 5.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,218 shares of the medical equipment provider’s stock worth $536,000 after purchasing an additional 920 shares during the last quarter. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew Stock Down 1.2 %

NYSE:SNN opened at $25.22 on Thursday. 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. The firm has a fifty day simple moving average of $28.37 and a 200-day simple moving average of $27.87.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SNN shares. Berenberg Bank cut Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft downgraded Smith & Nephew from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

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.