Smith & Nephew plc (SNN) Position Increased by Wells Fargo & Company MN

Smith & Nephew plc (SNN) Position Increased by Wells Fargo & Company MN

Investors are on alert as Smith & Nephew plc (NYSE:SNN)'s stock is experiencing unusual volume during today's trading.

As of 10:09 BST, Smith & Nephew's share price had added 4.12 percent to 1,415.00p, outperforming the broader United Kingdom market, with the benchmark FTSE 100 index now standing 0.06 percent lower at 7,534.01 points.

Shares of Smith & Nephew plc (NYSE:SNN) opened at 34.89 on Friday.

Hedge fund Elliott Management Corp has built a stake in artificial hip and knee maker Smith & Nephew Plc, Bloomberg reported on Tuesday, citing people familiar with the matter. For the week, the stock is performing 3.65%. Wetherby Asset Management Inc. now owns 16,120 shares of the medical equipment provider's stock worth $485,000 after buying an additional 2,868 shares during the last quarter.

The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 1st. This represents a dividend yield of 1.37%. The ex-dividend date was Wednesday, March 29th.

Several research analysts have weighed in on the company. BidaskClub upgraded Smith & Nephew SNATS from a "hold" rating to a "buy" rating in a research note on Tuesday, August 1st.

Smith & Nephew's market value has grown strongly since Mr Bohuon took the helm in 2011, hitting an all-time high of £14.07 last month and has outperformed the FTSE 100 and healthcare rivals GSK and AstraZeneca over the period. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. However, Smith & Nephew's prior public difficulties regarding the lofty salary of chief executive Olivier Bohuon, relatively modest earnings progression this decade and margins which lag those of the peer group all mean it is a potential target for an activist. Its products and services include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies (AET), Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices.

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