Smiths Group (LON:SMIN) Sets New 1-Year High – Here’s Why

Smiths Group plc (LON:SMIN)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 2,616 and last traded at GBX 2,616, with a volume of 1244512 shares changing hands. The stock had previously closed at GBX 2,570.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Panmure Gordon reissued a “buy” rating and set a GBX 2,870 target price on shares of Smiths Group in a research report on Thursday, November 20th. JPMorgan Chase & Co. increased their price objective on Smiths Group from GBX 2,820 to GBX 2,950 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, Berenberg Bank reaffirmed 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Smiths Group has an average rating of “Moderate Buy” and a consensus price target of GBX 2,856.67.

Smiths Group Stock Up 1.7%

The company has a market capitalization of £8.30 billion, a price-to-earnings ratio of 30.64, 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. The firm’s fifty day simple moving average is GBX 2,423.69 and its two-hundred day simple moving average is GBX 2,390.16.

Smiths Group announced that its board has approved a share buyback plan on Wednesday, November 19th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Smiths Group

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