Smiths Group (LON:SMIN) Reaches New 52-Week High – Time to Buy?

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

Analyst Ratings Changes

Several research firms have recently weighed in on SMIN. Panmure Gordon restated a “buy” rating and set a GBX 2,870 price objective on shares of Smiths Group in a research report on Thursday, November 20th. Berenberg Bank reissued a “hold” rating and set a GBX 2,750 price target on shares of Smiths Group in a research report on Friday, November 28th. Finally, JPMorgan Chase & Co. increased their price objective 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. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 2,856.67.

Smiths Group Trading Up 0.2%

The firm has a market capitalization of £8.32 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. The company has a fifty day moving average price of GBX 2,427.41 and a 200-day moving average price of GBX 2,393.30. 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 authorized a share repurchase program on Wednesday, November 19th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

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