Wells Fargo & Company MN reduced its holdings in shares of Smith & Nephew plc (NYSE:SNN) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 371,534 shares of the medical equipment provider’s stock after selling 16,258 shares during the period. Wells Fargo & Company MN’s holdings in Smith & Nephew were worth $13,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC bought a new position in Smith & Nephew during the second quarter valued at approximately $204,000. Capital Fund Management S.A. bought a new position in Smith & Nephew during the second quarter valued at approximately $210,000. Avestar Capital LLC grew its position in Smith & Nephew by 25.8% during 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. Alps Advisors Inc. bought a new position in Smith & Nephew during the second quarter valued at approximately $302,000. Finally, SG Americas Securities LLC bought a new position in Smith & Nephew during the second quarter valued at approximately $372,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

Shares of Smith & Nephew stock opened at $37.93 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 2.13. Smith & Nephew plc has a 52-week low of $32.22 and a 52-week high of $39.85.

SNN has been the topic of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating on shares of Smith & Nephew in a research report on Thursday, November 1st. Zacks Investment Research upgraded shares of Smith & Nephew from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, August 29th. Deutsche Bank upgraded shares of Smith & Nephew from a “sell” rating to a “hold” rating in a research report on Friday. Finally, HSBC cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Smith & Nephew presently has an average rating of “Hold” and an average price target of $42.00.

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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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