Point72 DIFC Ltd Invests $7.20 Million in Smith & Nephew plc (NYSE:SNN)

Point72 DIFC Ltd bought a new stake in Smith & Nephew plc (NYSE:SNN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 231,200 shares of the medical equipment provider’s stock, valued at approximately $7,200,000. Point72 DIFC Ltd owned 0.05% of Smith & Nephew as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SNN. Brandes Investment Partners LP raised its position in shares of Smith & Nephew by 20.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,373,051 shares of the medical equipment provider’s stock worth $34,002,000 after acquiring an additional 233,293 shares in the last quarter. River Road Asset Management LLC acquired a new stake in Smith & Nephew during the third quarter worth approximately $38,588,000. Bank of Montreal Can increased its holdings in Smith & Nephew by 355.8% in 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 purchasing an additional 964,762 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Smith & Nephew by 18.9% in the second quarter. Hsbc Holdings PLC now owns 548,691 shares of the medical equipment provider’s stock valued at $13,607,000 after buying an additional 87,360 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Smith & Nephew by 58.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,602 shares of the medical equipment provider’s stock worth $12,995,000 after buying an additional 193,046 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Berenberg Bank lowered Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Smith & Nephew Stock Performance

NYSE SNN opened at $25.67 on Wednesday. The company has a fifty day simple moving average of $27.38 and a 200 day simple moving average of $27.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. Smith & Nephew plc has a 12-month low of $23.65 and a 12-month high of $31.72.

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.