Smiths Group (LON:SMIN) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Smiths Group plc (LON:SMIN)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 2,356.02 and traded as high as GBX 2,412. Smiths Group shares last traded at GBX 2,412, with a volume of 2,538,752 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Panmure Gordon reissued a “buy” rating and set a GBX 2,870 price target on shares of Smiths Group in a report on Thursday, November 20th. JPMorgan Chase & Co. raised their price objective on Smiths Group from GBX 2,820 to GBX 2,950 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 2,750 price objective on shares of Smiths Group in a research note on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 2,856.67.

Smiths Group Stock Up 0.8%

The company has a market capitalization of £7.78 billion, a PE ratio of 28.28, a P/E/G ratio of 0.35 and a beta of 0.66. The company has a debt-to-equity ratio of 29.55, a current ratio of 2.07 and a quick ratio of 1.29. The business has a 50-day moving average of GBX 2,437.81 and a 200 day moving average of GBX 2,356.02.

Smiths Group (LON:SMIN) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported GBX 85.70 EPS for the quarter. Smiths Group had a net margin of 7.98% and a return on equity of 11.54%. Equities research analysts predict that Smiths Group plc will post 85.1295337 earnings per share for the current year.

Smiths Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 19th that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Smiths Group news, insider Richard Howes purchased 70 shares of the stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of GBX 2,522 per share, with a total value of £1,765.40. Also, insider Karin Hoeing purchased 224 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of GBX 2,522 per share, for a total transaction of £5,649.28. 0.78% of the stock is currently owned by corporate insiders.

Smiths Group Company Profile

Smiths Group plc operates as an industrial engineering company in Americas, Europe, the Asia Pacific, and internationally. It operates through four businesses: John Crane, Smiths Detection, Flex-Tek, and Smiths Interconnect. The John Crane business engineers mechanical seals, seal support systems, power transmission couplings, and specialized filtration systems. The Smiths Detection business provides sensors and systems that detect and identify explosives, narcotics, weapons, chemical agents, biohazards, and contraband.