Orthopedic device maker Smith & Nephew: BlackRock now top investor

The world’s largest asset management firm, BlackRock Inc., boosts its position in Smith & Nephew to nearly 45 million shares, making it the orthopedic company’s largest institutional shareholder.

BlackRock Inc. (NYSE:BLK) increased stake in British orthopedic device maker Smith & Nephew plc (NYSE:SNN) by some 2 million shares, making it the company’s single largest investor.

BlackRock, which previously owned 42 million shares of SNN stock, acquired nearly 3 million additional shares, according to regulatory filings.

The fund now owns 44.8 million SNN shares, good for a 5.02 percent ownership position in the orthopedics giant and making it the single largest institutional shareholder, according to Smith & Nephew’s 2010 annual report.

BlackRock, which controls more than $3.2 trillion in assets, became a major presence in medical devices in late 2009 following its purchase of Barclay’s Global Investors last December.



Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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