Smith & Nephew (NYSE:SNN) Shares Gap Down – Here’s What Happened

Smith & Nephew plc (NYSE:SNN) gapped down before the market opened on Friday . The stock had previously closed at $29.50, but opened at $28.27. Smith & Nephew shares last traded at $28.20, with a volume of 372,680 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Smith & Nephew in a research report on Wednesday, July 24th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Smith & Nephew Trading Down 3.8 %

The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. The firm’s 50 day simple moving average is $30.35 and its 200 day simple moving average is $27.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC lifted its holdings in Smith & Nephew by 12.1% in the first quarter. Park Avenue Securities LLC now owns 17,738 shares of the medical equipment provider’s stock worth $450,000 after purchasing an additional 1,911 shares during the period. BKM Wealth Management LLC lifted its stake in shares of Smith & Nephew by 17.8% in the 1st quarter. BKM Wealth Management LLC now owns 18,240 shares of the medical equipment provider’s stock worth $463,000 after acquiring an additional 2,757 shares during the period. Legacy Wealth Asset Management LLC increased its stake in shares of Smith & Nephew by 6.0% during the first quarter. Legacy Wealth Asset Management LLC now owns 16,022 shares of the medical equipment provider’s stock valued at $406,000 after acquiring an additional 903 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Smith & Nephew by 13.8% during the first quarter. Janney Montgomery Scott LLC now owns 9,611 shares of the medical equipment provider’s stock valued at $244,000 after acquiring an additional 1,165 shares during the period. Finally, Inspire Advisors LLC lifted its position in Smith & Nephew by 4.7% in the first quarter. Inspire Advisors LLC now owns 21,647 shares of the medical equipment provider’s stock worth $549,000 after purchasing an additional 970 shares during the period. Institutional investors own 25.64% of the company’s stock.

About Smith & Nephew

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.