Clearbridge Investments LLC Buys Shares of 103,016 Smith & Nephew plc (NYSE:SNN)

Clearbridge Investments LLC purchased a new position in shares of Smith & Nephew plc (NYSE:SNN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 103,016 shares of the medical equipment provider’s stock, valued at approximately $2,612,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tocqueville Asset Management L.P. raised its holdings in shares of Smith & Nephew by 294.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 224,441 shares of the medical equipment provider’s stock worth $5,692,000 after purchasing an additional 167,599 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Smith & Nephew during the first quarter valued at approximately $249,000. Bleakley Financial Group LLC lifted its stake in shares of Smith & Nephew by 25.7% in the first quarter. Bleakley Financial Group LLC now owns 14,912 shares of the medical equipment provider’s stock worth $378,000 after buying an additional 3,047 shares during the last quarter. Henry James International Management Inc. raised its stake in Smith & Nephew by 12.2% during the 1st quarter. Henry James International Management Inc. now owns 205,417 shares of the medical equipment provider’s stock valued at $5,209,000 after purchasing an additional 22,341 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Smith & Nephew by 47.0% during the 1st quarter. QRG Capital Management Inc. now owns 93,034 shares of the medical equipment provider’s stock valued at $2,359,000 after purchasing an additional 29,754 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew Stock Performance

Shares of SNN stock traded up $0.15 during mid-day trading on Thursday, reaching $28.84. The company’s stock had a trading volume of 30,915 shares, compared to its average volume of 944,343. The firm’s 50-day moving average is $26.09 and its two-hundred day moving average is $26.31. The company has a current ratio of 1.77, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. Smith & Nephew plc has a 1-year low of $21.52 and a 1-year high of $31.31.

Analyst Ratings Changes

Several equities analysts recently commented on SNN shares. StockNews.com cut shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. UBS Group upgraded shares of Smith & Nephew from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Smith & Nephew in a research note on Wednesday. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About Smith & Nephew

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.