Smith & Nephew plc (SNN) Position Cut by M&T Bank Corp

M&T Bank Corp trimmed its position in Smith & Nephew plc (NYSE:SNN) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,342 shares of the medical equipment provider’s stock after selling 660 shares during the quarter. M&T Bank Corp’s holdings in Smith & Nephew were worth $2,069,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new position in Smith & Nephew in the fourth quarter valued at approximately $52,000. Quadrant Capital Group LLC increased its stake in Smith & Nephew by 180.5% in the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the medical equipment provider’s stock valued at $111,000 after acquiring an additional 2,018 shares during the last quarter. Quantbot Technologies LP bought a new position in Smith & Nephew in the third quarter valued at approximately $204,000. Avestar Capital LLC increased its stake in Smith & Nephew by 25.8% in the third quarter. Avestar Capital LLC now owns 7,910 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in Smith & Nephew by 3,420.0% in the third quarter. Rehmann Capital Advisory Group now owns 16,579 shares of the medical equipment provider’s stock valued at $447,000 after acquiring an additional 16,108 shares during the last quarter. 8.92% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. BNP Paribas cut shares of Smith & Nephew from an “outperform” rating to a “neutral” rating in a research note on Friday, February 8th. Zacks Investment Research raised shares of Smith & Nephew from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. JPMorgan Chase & Co. cut shares of Smith & Nephew from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 1st. Morgan Stanley upgraded shares of Smith & Nephew from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 10th. Finally, Deutsche Bank upgraded shares of Smith & Nephew from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Smith & Nephew presently has an average rating of “Hold” and an average target price of $42.00.

Shares of NYSE:SNN opened at $38.44 on Wednesday. The firm has a market cap of $17.58 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 3.07 and a beta of 0.48. The company has a current ratio of 2.10, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. Smith & Nephew plc has a 52 week low of $32.22 and a 52 week high of $40.78.

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About Smith & Nephew

Smith & Nephew plc designs, develops, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

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Institutional Ownership by Quarter for Smith & Nephew (NYSE:SNN)

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