Smith & Nephew share price rallies after activist investor report

Notice of Chief Executive Officer’s intention to retire by end of 2018

Recon Notice of Chief Executive Officer’s intention to retire by end of 2018 Posted by Josh Sandberg on 3 hours ago

The firm earned "Hold" rating on Thursday, October 6 by Berenberg. Comerica Bank now owns 31,542 shares of the medical equipment provider's stock worth $966,000 after buying an additional 608 shares during the last quarter. Morgan Stanley upgraded the shares of SNN in report on Thursday, December 8 to "Overweight" rating. 731,903 shares of the company's stock traded hands.

Investors reacted positively to the prospect of Elliott engineering a shake-up at the firm, pushing its stock up to £14.01 by close. Smith & Nephew plc has a 52 week low of $26.97 and a 52 week high of $35.30.

Smith & Nephew SNATS, Inc. has a 50 day moving average of 36.32 and a 200 day moving average of 34.67. Dynamic Technology Lab Private Ltd now owns 7,694 shares of the medical equipment provider's stock valued at $268,000 after buying an additional 424 shares in the last quarter.

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.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, November 1st. On Monday, May 9 the stock rating was upgraded by Jefferies to "Buy". The firm has "Hold" rating by HSBC given on Thursday, January 19. The ex-dividend date is Thursday, October 5th. This represents a yield of 2.42%.

United Kingdom to conduct next clean energy auctions worth GBP557m in 2019
The news was welcomed by industry groups, especially those representing the "less established" technologies likely to compete for the next auction.

Sources with knowledge of the matter told Bloomberg last night that billionaire Paul Singer's hedge fund Elliott Management had built up a stake in Smith & Nephew, without, however, specifying the size of the stake.

"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.

02/11/2016 - Smith & Nephew SNATS, Inc. was downgraded to "neutral" by analysts at UBS. Finally, Wetherby Asset Management Inc. raised its position in Smith & Nephew plc by 21.6% in the fourth quarter.

London-listed shares in the company, which makes artificial hips and knees, rose 4.12 per cent to 1,415p this morning.

Wells Fargo & Company MN boosted its position in shares of Smith & Nephew plc (NYSE:SNN) by 21.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The Company's services and products include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies, Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices.

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