Smith & Nephew (NYSE:SNN) Shares Gap Up - Here's Why

Shares of Smith & Nephew plc (NYSE:SNN - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $26.28, but opened at $27.82. Smith & Nephew shares last traded at $27.90, with a volume of 248,651 shares changing hands.Get Smith & Nephew alerts:Analyst Ratings ChangesSanta Rally comes early for these stocksA number of brokerages have weighed in on SNN. Deutsche Bank Aktiengesellschaft lowered Smith & Nephew from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. StockNews.com downgraded Smith & Nephew from a "strong-buy" rating to a "buy" rating in a research note 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.View Our Latest Analysis on SNNSmith & Nephew Stock PerformanceSurgical Centers, Med-Tech Stocks Up On Pent-Up Surgical DemandThe company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. The company's 50 day moving average price is $25.06 and its 200-day moving average price is $27.23. The company has a market cap of $12.27 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84. Institutional Investors Weigh In On Smith & NephewSeveral large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Smith & Nephew during the 3rd quarter valued at approximately $792,000. Charles Schwab Investment Management Inc. grew its position in shares of Smith & Nephew by 29.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider's stock valued at $847,000 after purchasing an additional 6,164 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Smith & Nephew during the 3rd quarter valued at $1,258,000. Maverick Capital Ltd. purchased a new stake in Smith & Nephew during the 3rd quarter worth about $2,086,000. Finally, Blue Trust Inc. boosted its stake in Smith & Nephew by 26.0% in the 4th quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider's stock worth $144,000 after purchasing an additional 1,213 shares during the period. Hedge funds and other institutional investors own 25.64% of the company's stock. About Smith & Nephew (Get Free Report)3 Healthcare Dividend Payers With Big Price GrowthSmith & 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.See AlsoFive stocks we like better than Smith & NephewRide Out The Recession With These Dividend Kings February’s Top 3 Stock Upgrades: What Investors Need to KnowAirline Stocks - Top Airline Stocks to Buy Now2 Safe-Haven Stocks Shielded From Import TariffsNatural Gas Prices Continue To Rally, These Stocks Should BenefitNebius Group: A Strategic Entry Point for Investors? This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Smith & Nephew Right Now?Before you consider Smith & Nephew, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Smith & Nephew wasn't on the list.While Smith & Nephew currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here