Smiths Group (LON:SMIN) Sets New 1-Year High – Still a Buy?

Shares of Smiths Group plc (LON:SMIN) hit a new 52-week high on Thursday . The company traded as high as GBX 2,574 and last traded at GBX 2,568, with a volume of 4682204 shares traded. The stock had previously closed at GBX 2,460.

Analyst Ratings Changes

SMIN has been the subject of several research reports. Panmure Gordon reiterated a “buy” rating and issued a GBX 2,870 target price on shares of Smiths Group in a research report on Thursday, November 20th. JPMorgan Chase & Co. raised their price objective on shares of 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 reissued a “hold” rating and set a GBX 2,750 target price on shares of Smiths Group in a report on Friday, November 28th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 2,856.67.

Smiths Group Stock Performance

The stock’s 50 day moving average price is GBX 2,421.05 and its 200 day moving average price is GBX 2,383.31. The company has a market capitalization of £8.29 billion, a P/E ratio of 30.62, 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 quick ratio of 1.29 and a current ratio of 2.07.

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

Insider Activity

In other Smiths Group news, insider Karin Hoeing acquired 224 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of GBX 2,522 per share, with a total value of £5,649.28. Also, insider Richard Howes bought 70 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of GBX 2,522 per share, with a total value of £1,765.40. 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.