Pinnacle West Asset Management Inc. Acquires 1,100 Shares of Smith & Nephew plc (NYSE:SNN)

Pinnacle West Asset Management Inc. raised its position in shares of Smith & Nephew plc (NYSE:SNN) by 13.6% during the 4th quarter, Holdings Channel reports. The fund owned 9,175 shares of the medical equipment provider’s stock after purchasing an additional 1,100 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Smith & Nephew were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC raised its holdings in shares of Smith & Nephew by 3.5% during the 4th quarter. Bleakley Financial Group LLC now owns 17,704 shares of the medical equipment provider’s stock worth $435,000 after acquiring an additional 596 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Smith & Nephew by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,659 shares of the medical equipment provider’s stock worth $301,000 after acquiring an additional 626 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Smith & Nephew by 87.6% during the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 691 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Smith & Nephew by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock worth $73,000 after acquiring an additional 718 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Smith & Nephew by 5.4% during the 3rd quarter. Townsquare Capital LLC now owns 14,759 shares of the medical equipment provider’s stock worth $460,000 after acquiring an additional 761 shares in the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Smith & Nephew from a “buy” rating to a “hold” rating in a report on Friday, November 1st. StockNews.com cut Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Berenberg Bank lowered Smith & Nephew from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Smith & Nephew Stock Performance

NYSE:SNN opened at $28.09 on Wednesday. The stock’s fifty day moving average is $25.11 and its 200 day moving average is $27.22. Smith & Nephew plc has a fifty-two week low of $23.65 and a fifty-two week high of $31.72. The firm has a market capitalization of $12.28 billion, a PE ratio of 13.01, a PEG ratio of 1.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51.

Smith & Nephew Company Profile

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.