Economy

Activist investor 'builds stake in bid target Smith & Nephew'

Activist investor 'builds stake in bid target Smith & Nephew'”

The company realized a fall in short interest from September 15, 2017 to September 29, 2017 of -21.43%. Short interest fell from 606,451 to 476,472 over that period. Days to cover decreased -1.0 to 1.0 and the percentage of shorted shares is 0.00% as of September 29. Point72 Asset Management, L.p. controls 369,900 shares with a value of $12,891,000. The group's shares have added just under 14 percent to their value over the past year, and are up by almost 16 percent in the year-to-date. Curbstone Financial Management Corp now controls 31,500 shares worth $1,147,000.

As of the end of the quarter Genesee Valley Trust Co had acquired a total of 201 shares growing its holdings by 1.9%.

Also covering Smith & Nephew PLC (ADR)'s price target, a total of 3 firms have issued a report on the company. Similar statistics are true for the second largest owner, Arrowstreet Capital, Limited Partnership, which owns 2,986,759 shares of the stock are valued at $107.94 million. The stock grabbed 19 new institutional investments totaling 530,510 shares while 15 institutional investors sold out their entire positions totaling 633,807 shares.

Smith & Nephew PLC (ADR) has a 52 week low of $26.97 and a 52 week high of $40.43 with a P/E ratio of 19.09 The company's market cap is now $0.

"We do not comment on rumour or speculation and we do not comment on the identity of our investors other than those publicly disclosed", Smith & Nephew said in an emailed statement. The dividend payment will be $0.155 per share for the quarter or $0.62 on an annualized basis. This represents a dividend yield of 1.37%. More interesting news about Smith & Nephew plc (ADR) (NYSE:SNN) were released by: Ft.com and their article: "Activist hedge fund Elliott takes aim at Smith & Nephew" published on October 10, 2017 as well as Benzinga.com's news article titled: "Benzinga's Top Upgrades, Downgrades For October 11, 2017" with publication date: October 11, 2017.

Company shares are trading at $37.58 barely above $36.32, the 50 day moving average and just above the 200 day moving average of $34.67. The 50 day moving average went up by +3.75% whereas the 200 day average was up by +8.69%. The company has market cap of $15.53 billion.

Smith & Nephew plc (NYSE:SNN) is at least 40.22% than its current record low price of $26.97. The Company is involved in developing, manufacturing, marketing and selling medical devices and services.



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