Short Interest in Smith & Nephew plc (NYSE:SNN) Declines By 17.5%

Smith & Nephew plc (NYSE:SNN) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,980,000 shares, a decrease of 17.5% from the March 15th total of 2,400,000 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 972,300 shares, the days-to-cover ratio is currently 2.0 days.

Smith & Nephew Price Performance

Shares of SNN opened at $23.77 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 0.72. The company’s fifty day moving average is $26.75 and its two-hundred day moving average is $25.99. Smith & Nephew has a 1 year low of $21.52 and a 1 year high of $33.08.

Smith & Nephew Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.462 per share. The ex-dividend date of this dividend is Monday, April 1st. This represents a dividend yield of 2.8%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Smith & Nephew

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC grew its stake in shares of Smith & Nephew by 12.1% during the 1st 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. Ridgewood Investments LLC grew its stake in shares of Smith & Nephew by 60.2% during the 1st quarter. Ridgewood Investments LLC now owns 78,178 shares of the medical equipment provider’s stock worth $1,983,000 after purchasing an additional 29,378 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Smith & Nephew during the 4th quarter worth $887,000. Goldman Sachs Group Inc. grew its stake in shares of Smith & Nephew by 3.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,343,712 shares of the medical equipment provider’s stock worth $36,656,000 after purchasing an additional 44,445 shares during the period. Finally, Syon Capital LLC acquired a new position in shares of Smith & Nephew during the 4th quarter worth $356,000. 25.64% of the stock is owned by institutional investors and hedge funds.

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.