Smith & Nephew (NYSE:SNN) Sees Unusually-High Trading Volume – Here’s Why

Shares of Smith & Nephew plc (NYSE:SNN) saw unusually-high trading volume on Friday . Approximately 2,453,133 shares were traded during trading, an increase of 185% from the previous session’s volume of 861,303 shares.The stock last traded at $24.75 and had previously closed at $24.79.

Analyst Ratings Changes

SNN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Berenberg Bank lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th.

Smith & Nephew Stock Down 0.4 %

The firm’s 50-day simple moving average is $26.29 and its 200-day simple moving average is $27.88. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.41 and a beta of 0.84. 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

Several large investors have recently added to or reduced their stakes in SNN. Allspring Global Investments Holdings LLC increased its position in shares of Smith & Nephew by 1,894.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,735 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 1,648 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Smith & Nephew by 92.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,454 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 1,179 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Smith & Nephew by 160.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,257 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 1,389 shares during the period. Blue Trust Inc. boosted its stake in Smith & Nephew by 460.5% in the 3rd quarter. Blue Trust Inc. now owns 4,658 shares of the medical equipment provider’s stock valued at $145,000 after buying an additional 3,827 shares in the last quarter. Finally, Coerente Capital Management bought a new stake in Smith & Nephew in the third quarter valued at $202,000. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew Company 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.