Smith & Nephew PLC (SNN) Sees Strong Trading Volume
Smith & Nephew PLC (NYSE:SNN) saw unusually-high trading volume on Friday . Approximately 764,494 shares were traded during trading, an increase of 127% from the previous session’s volume of 337,450 shares.The stock last traded at $32.66 and had previously closed at $32.73.
Several brokerages have weighed in on SNN. Barclays PLC downgraded shares of Smith & Nephew PLC from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, August 10th. Jefferies Group upgraded shares of Smith & Nephew PLC from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. Beaufort Securities restated a “hold” rating on shares of Smith & Nephew PLC in a research note on Wednesday, August 10th. Finally, Zacks Investment Research downgraded shares of Smith & Nephew PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.00.
The firm has a market capitalization of $14.74 billion and a P/E ratio of 41.54. The stock’s 50-day moving average price is $33.85 and its 200-day moving average price is $33.52.
An institutional investor recently raised its position in Smith & Nephew PLC stock. Wells Fargo & Company MN raised its stake in Smith & Nephew PLC (NYSE:SNN) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,789 shares of the company’s stock after buying an additional 15,869 shares during the period. Wells Fargo & Company MN owned approximately 0.09% of Smith & Nephew PLC worth $13,556,000 as of its most recent filing with the SEC.
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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