Brandes Investment Partners LP Purchases 233,293 Shares of Smith & Nephew plc (NYSE:SNN)

Brandes Investment Partners LP raised its holdings in shares of Smith & Nephew plc (NYSE:SNN) by 20.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,373,051 shares of the medical equipment provider’s stock after purchasing an additional 233,293 shares during the period. Brandes Investment Partners LP owned 0.31% of Smith & Nephew worth $34,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SNN. Parallel Advisors LLC increased its holdings in Smith & Nephew by 150.9% in the fourth quarter. Parallel Advisors LLC now owns 1,533 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 922 shares during the last quarter. Mather Group LLC. increased its stake in shares of Smith & Nephew by 9,735.3% in the 2nd quarter. Mather Group LLC. now owns 1,672 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 1,655 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Smith & Nephew by 1,894.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,735 shares of the medical equipment provider’s stock valued at $43,000 after acquiring an additional 1,648 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Smith & Nephew by 92.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,454 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 1,179 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Smith & Nephew by 225.0% during the 1st quarter. Headlands Technologies LLC now owns 3,851 shares of the medical equipment provider’s stock worth $98,000 after acquiring an additional 2,666 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew Price Performance

Shares of SNN opened at $31.12 on Monday. The company has a 50 day moving average of $30.36 and a 200-day moving average of $27.19. 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 stock has a market capitalization of $13.60 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.34 and a beta of 0.82. Smith & Nephew plc has a twelve month low of $21.52 and a twelve month high of $31.72.

Wall Street Analyst Weigh In

Several research firms have weighed in on SNN. UBS Group upgraded shares of Smith & Nephew from a “neutral” rating to a “buy” rating in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Smith & Nephew in a research note on Wednesday, July 24th. They set a “buy” rating on the stock. Finally, StockNews.com raised Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

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.