Smith & Nephew PLC (NYSE:SNN) dropped 5.5% on Thursday . The company traded as low as $32.66 and last traded at $32.71, with a volume of 1,107,468 shares changing hands. The stock had previously closed at $34.60.

Several equities research analysts recently commented on SNN shares. Zacks Investment Research lowered shares of Smith & Nephew PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Jefferies Group upgraded shares of Smith & Nephew PLC from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Smith & Nephew PLC in a research note on Monday, April 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $37.00.

The firm’s 50 day moving average is $33.86 and its 200 day moving average is $33.41. The stock has a market cap of $14.60 billion and a price-to-earnings ratio of 35.80.

Several hedge funds and institutional investors have recently made changes to their positions in the stock. Sei Investments Co. increased its position in shares of Smith & Nephew PLC by 2.1% in the fourth quarter. Sei Investments Co. now owns 39,456 shares of the company’s stock valued at $1,405,000 after buying an additional 821 shares during the period. US Bancorp DE boosted its stake in Smith & Nephew PLC by 37.6% in the fourth quarter. US Bancorp DE now owns 253,952 shares of the company’s stock valued at $9,041,000 after buying an additional 69,437 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Smith & Nephew PLC by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 254,835 shares of the company’s stock valued at $9,072,000 after buying an additional 15,270 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Smith & Nephew PLC by 4.3% in the fourth quarter. Wells Fargo & Company MN now owns 380,789 shares of the company’s stock valued at $13,556,000 after buying an additional 15,869 shares in the last quarter.

Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. The Company offers various product franchises, which include Knee implants, Hip implants, Sports Medicine Joint Repair, Arthroscopy Enabling Technologies, Trauma and Extremities, Other Surgical Businesses, Advanced Wound Care, Advanced Wound Devices and Advanced Wound Bioactives.

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