Smiths Group (LON:SMIN) Hits New 1-Year High – Time to Buy?

Shares of Smiths Group plc (LON:SMIN) hit a new 52-week high during trading on Friday . The company traded as high as GBX 2,672 and last traded at GBX 2,660, with a volume of 1316552 shares traded. The stock had previously closed at GBX 2,656.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup raised their target price on Smiths Group from GBX 2,950 to GBX 3,040 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada boosted their price objective on shares of Smiths Group from GBX 3,500 to GBX 4,300 and gave the company a “buy” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Smiths Group from GBX 2,820 to GBX 2,950 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 2,750 target price on shares of Smiths Group in a research note on Friday, November 28th. Finally, Panmure Gordon reissued a “buy” rating and issued a GBX 2,870 price target on shares of Smiths Group in a research note on Thursday, November 20th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Smiths Group currently has an average rating of “Moderate Buy” and an average price target of GBX 3,182.

Smiths Group Price Performance

The company has a market capitalization of £8.51 billion, a PE ratio of 31.70, a price-to-earnings-growth 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 stock’s 50 day simple moving average is GBX 2,503.40 and its 200-day simple moving average is GBX 2,434.69.

Smiths Group announced that its board has initiated a share buyback program on Wednesday, November 19th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Smiths Group

In related news, insider Richard Howes bought 70 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost of GBX 2,496 per share, with a total value of £1,747.20. Also, insider Simon Pryce purchased 68 shares of Smiths Group stock in a transaction on Monday, February 2nd. The stock was bought at an average cost of GBX 2,496 per share, for a total transaction of £1,697.28. Company insiders own 0.78% of the company’s stock.

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.