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

Smiths Group plc (LON:SMIN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,428.35 and traded as high as GBX 2,646. Smiths Group shares last traded at GBX 2,636, with a volume of 43,348,164 shares.

Analyst Upgrades and Downgrades

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

Smiths Group Price Performance

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 firm has a market cap of £8.30 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 0.35 and a beta of 0.66. The stock has a 50-day moving average price of GBX 2,483.88 and a 200 day moving average price of GBX 2,428.35.

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

Insider Buying and Selling

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

About Smiths Group

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.