Invesco boosts share in Smith & Nephew | Wall Street Beat

November 7, 2012 by MassDevice staff

Invesco raises its stake in medical device company Smith & Nephew by more than 20%.

MassDevice.com Wall Street Beat

Invesco, a Atlanta-based investment management firm, bought up another clutch of Smith & Nephew (FTSE:SN, NYSE:SNN) shares, taking its total stake in the British medical device company to nearly 12%, according to regulatory filings.

Invesco added more than 18.5 million shares to its holdings in Smith & Nephew, taking its total to nearly 108.2 million shares. That's a 20.7% increase in its stake, which now amounts to 11.96% of SNN.

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As of Oct. 9 Invesco had about $683 billion in assets under management, according to a press release.

SNN shares were down slightly as of about 1:50 p.m. today, trading at $51.46 apiece.

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