Share Buyback Program Announced by Smiths Group (LON:SMIN) Board of Directors

Smiths Group (LON:SMIN) announced that its board has initiated a share buyback program on Wednesday, November 19th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. restated an “overweight” rating on shares of Smiths Group in a report on Friday, October 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Smiths Group Trading Down 1.0%

LON:SMIN traded down GBX 24 during midday trading on Wednesday, hitting GBX 2,420. The stock had a trading volume of 643,295 shares, compared to its average volume of 2,932,423. The company has a market capitalization of £7.84 billion, a price-to-earnings ratio of 28.37, a PEG 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. Smiths Group has a one year low of GBX 1,671 and a one year high of GBX 2,561. The stock has a 50-day moving average of GBX 2,423.16 and a 200 day moving average of GBX 2,308.11.

Smiths Group (LON:SMIN) last issued its quarterly earnings data on Tuesday, September 23rd. The company reported GBX 85.70 EPS for the quarter. Smiths Group had a net margin of 7.98% and a return on equity of 11.54%. As a group, sell-side analysts forecast that Smiths Group will post 85.1295337 EPS for the current year.

Insider Activity at Smiths Group

In other news, insider Roland Carter sold 29,313 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of GBX 2,421, for a total value of £709,667.73. Also, insider Richard Howes bought 70 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price 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.