Ridgewood Investments LLC Sells 5,284 Shares of Smith & Nephew plc (NYSE:SNN)

Ridgewood Investments LLC reduced its position in Smith & Nephew plc (NYSE:SNN) by 6.9% during the third quarter, Holdings Channel reports. The institutional investor owned 71,643 shares of the medical equipment provider’s stock after selling 5,284 shares during the quarter. Smith & Nephew comprises 1.1% of Ridgewood Investments LLC’s investment portfolio, making the stock its 12th largest holding. Ridgewood Investments LLC’s holdings in Smith & Nephew were worth $2,231,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Argonautica Private Wealth Management Inc. boosted its stake in Smith & Nephew by 6.3% in the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 10,244 shares of the medical equipment provider’s stock worth $254,000 after purchasing an additional 605 shares in the last quarter. Inspire Advisors LLC boosted its stake in Smith & Nephew by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 22,286 shares of the medical equipment provider’s stock worth $552,000 after purchasing an additional 639 shares in the last quarter. Rhumbline Advisers boosted its stake in Smith & Nephew by 8.6% in the 2nd quarter. Rhumbline Advisers now owns 10,365 shares of the medical equipment provider’s stock worth $257,000 after purchasing an additional 819 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in Smith & Nephew by 6.0% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 16,022 shares of the medical equipment provider’s stock worth $406,000 after purchasing an additional 903 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Smith & Nephew by 150.9% in the 4th quarter. Parallel Advisors LLC now owns 1,533 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 922 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNN has been the subject of a number of recent research reports. StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Smith & Nephew in a report on Wednesday, July 24th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Smith & Nephew Stock Performance

Shares of NYSE:SNN traded up $0.16 during trading on Friday, hitting $29.99. 382,559 shares of the stock traded hands, compared to its average volume of 665,390. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The company has a fifty day moving average price of $30.54 and a two-hundred day moving average price of $27.31. Smith & Nephew plc has a 52-week low of $21.52 and a 52-week high of $31.72.

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.