HRS Investment Holdings LLC Reduces Position in Smith & Nephew plc (SNN)

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HRS Investment Holdings LLC reduced its holdings in Smith & Nephew plc (NYSE:SNN) by 53.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,500 shares of the medical equipment provider’s stock after selling 20,000 shares during the quarter. HRS Investment Holdings LLC’s holdings in Smith & Nephew were worth $657,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its position in shares of Smith & Nephew by 10.2% in the second quarter. Eagle Asset Management Inc. now owns 16,325 shares of the medical equipment provider’s stock worth $612,000 after acquiring an additional 1,516 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Smith & Nephew by 10.4% in the second quarter. First Republic Investment Management Inc. now owns 19,599 shares of the medical equipment provider’s stock worth $736,000 after acquiring an additional 1,841 shares in the last quarter. Thomas White International Ltd. increased its position in shares of Smith & Nephew by 3.6% in the second quarter. Thomas White International Ltd. now owns 59,342 shares of the medical equipment provider’s stock worth $2,227,000 after acquiring an additional 2,046 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Smith & Nephew by 0.6% in the second quarter. Crossmark Global Holdings Inc. now owns 357,091 shares of the medical equipment provider’s stock worth $13,402,000 after acquiring an additional 2,109 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Smith & Nephew by 7.2% in the second quarter. Raymond James & Associates now owns 31,587 shares of the medical equipment provider’s stock worth $1,185,000 after acquiring an additional 2,109 shares in the last quarter. 8.73% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on SNN shares. Zacks Investment Research raised shares of Smith & Nephew from a “sell” rating to a “hold” rating in a research report on Saturday, May 26th. Canaccord Genuity reissued a “buy” rating and issued a $42.00 target price on shares of Smith & Nephew in a research report on Monday, August 6th. Finally, UBS Group downgraded shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.00.

Smith & Nephew stock opened at $35.84 on Friday. Smith & Nephew plc has a fifty-two week low of $33.79 and a fifty-two week high of $40.43. The company has a market capitalization of $15.73 billion, a PE ratio of 18.86, a PEG ratio of 2.95 and a beta of 0.50. The company has a current ratio of 2.13, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31.

Smith & Nephew Profile

Smith & Nephew plc designs, develops, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Smith & Nephew (NYSE:SNN)

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