Smiths Group (LON:SMIN) Reaches New 52-Week High – Here’s Why

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SMIN. JPMorgan Chase & Co. boosted their price target on 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 lifted their price objective on Smiths Group from GBX 3,500 to GBX 4,300 and gave the stock a “buy” rating in a report on Thursday, January 29th. 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. Citigroup raised 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 report on Tuesday, January 27th. Finally, 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,182.

Smiths Group Stock Performance

The company has a market cap of £8.57 billion, a P/E ratio of 31.91, a P/E/G ratio of 0.35 and a beta of 0.66. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 29.55. The business has a fifty day simple moving average of GBX 2,530.50 and a two-hundred day simple moving average of GBX 2,444.20.

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

Insider Buying and Selling

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