Smith & Nephew plc (NYSE:SNN) Short Interest Update

Smith & Nephew plc (NYSE:SNN) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,150,000 shares, a decrease of 28.1% from the February 28th total of 1,600,000 shares. Based on an average trading volume of 819,500 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.3% of the company’s shares are sold short.

Smith & Nephew Stock Down 1.4 %

SNN traded down $0.39 during midday trading on Friday, hitting $28.03. The company had a trading volume of 775,052 shares, compared to its average volume of 815,770. The stock’s 50 day moving average price is $27.13 and its 200 day moving average price is $26.96. Smith & Nephew has a 52 week low of $23.65 and a 52 week high of $31.72. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.26 and a beta of 0.83. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63.

Smith & Nephew Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be given a $0.447 dividend. This represents a yield of 2.5%. This is a positive change from Smith & Nephew’s previous semi-annual dividend of $0.29. The ex-dividend date is Friday, March 28th. Smith & Nephew’s payout ratio is presently 41.20%.

Analyst Upgrades and Downgrades

SNN has been the topic of a number of recent research reports. StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 26th. Canaccord Genuity Group reissued a “hold” rating and issued a $27.00 price objective on shares of Smith & Nephew in a research note on Monday, March 17th. Finally, UBS Group downgraded Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Smith & Nephew by 29.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider’s stock valued at $847,000 after acquiring an additional 6,164 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Smith & Nephew in the 3rd quarter worth $1,258,000. Maverick Capital Ltd. acquired a new stake in Smith & Nephew in the 3rd quarter valued at $2,086,000. Blue Trust Inc. increased its stake in Smith & Nephew by 26.0% during the 4th quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider’s stock valued at $144,000 after purchasing an additional 1,213 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Smith & Nephew by 31.8% during the fourth quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock worth $73,000 after buying an additional 718 shares during the last quarter. 25.64% of the stock is owned by institutional investors and hedge funds.

About Smith & Nephew

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.