Smiths Group (LON:SMIN) Hits New 52-Week High – Here’s What Happened

Smiths Group plc (LON:SMIN)’s stock price hit a new 52-week high on Friday . The stock traded as high as GBX 2,720 and last traded at GBX 2,716, with a volume of 1266647 shares traded. The stock had previously closed at GBX 2,700.

Analyst Upgrades and Downgrades

SMIN has been the topic of a number of research reports. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 2,750 price target on shares of Smiths Group in a research note on Friday, November 28th. Citigroup upped their price target on shares of Smiths Group from GBX 2,950 to GBX 3,040 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. lifted their target price on Smiths Group from GBX 2,820 to GBX 2,950 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Panmure Gordon reiterated a “buy” rating and issued a GBX 2,870 price target on shares of Smiths Group in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada increased their price objective on shares of 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. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 3,182.

Smiths Group Price Performance

The business has a 50-day moving average of GBX 2,536.97 and a 200 day moving average of GBX 2,448.01. The firm has a market capitalization of £8.61 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 29.55.

Smiths Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 19th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

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