Smith & Nephew (NYSE:SNN) Shares Gap Down – Time to Sell?

Smith & Nephew plc (NYSE:SNN)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $28.85, but opened at $25.46. Smith & Nephew shares last traded at $25.56, with a volume of 278,573 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNN. StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Smith & Nephew in a research note on Wednesday, July 24th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Smith & Nephew Stock Down 13.0 %

The company’s 50 day moving average price is $30.20 and its 200-day moving average price is $27.79. 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

Large investors have recently modified their holdings of the business. Lorne Steinberg Wealth Management Inc. raised its stake in shares of Smith & Nephew by 53.6% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock valued at $5,725,000 after acquiring an additional 80,650 shares during the last quarter. Clearbridge Investments LLC bought a new position in Smith & Nephew during the first quarter worth $2,612,000. Sanctuary Advisors LLC bought a new position in Smith & Nephew during the second quarter worth $627,000. Tocqueville Asset Management L.P. raised its stake in Smith & Nephew by 294.9% during the first quarter. Tocqueville Asset Management L.P. now owns 224,441 shares of the medical equipment provider’s stock worth $5,692,000 after buying an additional 167,599 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in 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 worth $31,059,000 after buying an additional 964,762 shares during the last quarter. Institutional investors 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.