Activist investor Cevian Capital takes 5% stake in Smith & Nephew

(Sharecast News) - Swedish activist investor Cevian Capital has purchased a 5% stake in medical equipment manufacturer Smith & Nephew, according to regulator filings on Thursday. In a 'notification of major holdings' filing, Smith & Nephew revealed that Cevian now holds 43.9m shares in the company.

The purchase of the 5.021% stake is Cevian's first investment in Smith & Nephew and makes it the third-largest shareholder in the FTSE 100 firm.

The move follows an 8% drop in the share price since the start of 2024, an 18% fall over the past year and a 43% decline over the past five years.