Connor Clark & Lunn Investment Management Ltd. Takes $1.63 Million Position in Smith & Nephew plc (NYSE:SNN)

Posted by Defense World Staff on May 30th, 2023

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Smith & Nephew plc (NYSE:SNN – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,586 shares of the medical equipment provider’s stock, valued at approximately $1,629,000.

Other institutional investors have also recently made changes to their positions in the company. Gallacher Capital Management LLC purchased a new position in shares of Smith & Nephew during the fourth quarter valued at about $215,000. FORA Capital LLC purchased a new position in Smith & Nephew in the third quarter worth about $348,000. Ethic Inc. purchased a new position in Smith & Nephew in the third quarter worth about $230,000. Argonautica Private Wealth Management Inc. purchased a new position in Smith & Nephew in the fourth quarter worth about $217,000. Finally, Aigen Investment Management LP purchased a new position in Smith & Nephew in the third quarter worth about $552,000. Hedge funds and other institutional investors own 9.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SNN. Sanford C. Bernstein initiated coverage on Smith & Nephew in a research report on Tuesday, March 7th. They set an “outperform” rating for the company. HSBC downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. UBS Group boosted their price objective on shares of Smith & Nephew from GBX 970 ($11.99) to GBX 1,000 ($12.36) in a research note on Wednesday, February 22nd. Barclays downgraded shares of Smith & Nephew from an “overweight” rating to an “underweight” rating in a research note on Wednesday, March 29th. Finally, Liberum Capital raised shares of Smith & Nephew from a “hold” rating to a “buy” rating in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1,240.00.

Smith & Nephew Price Performance

Shares of SNN stock opened at $30.07 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 2.25 and a debt-to-equity ratio of 0.52. Smith & Nephew plc has a 12-month low of $21.77 and a 12-month high of $33.08. The business’s fifty day simple moving average is $30.37 and its 200-day simple moving average is $28.63.

About Smith & Nephew

(Get Rating)

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics; Sports Medicine and ENT; and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies and ENT.