Smiths Group (LON:SMIN) Sets New 52-Week High – Still a Buy?

Shares of Smiths Group plc (LON:SMIN) hit a new 52-week high on Friday . The stock traded as high as GBX 2,672 and last traded at GBX 2,660, with a volume of 1316552 shares trading hands. The stock had previously closed at GBX 2,656.

Analysts Set New Price Targets

SMIN has been the topic of several analyst reports. Berenberg Bank reiterated a “hold” rating and set a GBX 2,750 price target on shares of Smiths Group in a report on Friday, November 28th. Panmure Gordon reiterated a “buy” rating and set a GBX 2,870 target price on shares of Smiths Group in a report on Thursday, November 20th. Royal Bank Of Canada raised their target price on Smiths Group from GBX 3,500 to GBX 4,300 and gave the stock a “buy” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. upped their price target on Smiths Group from GBX 2,820 to GBX 2,950 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Citigroup lifted their price objective on Smiths Group from GBX 2,950 to GBX 3,040 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,182.

Smiths Group Price Performance

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 business’s 50 day moving average price is GBX 2,495.92 and its two-hundred day moving average price is GBX 2,431.41. The stock has a market cap of £8.46 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66.

Smiths Group announced that its board has authorized a stock buyback plan on Wednesday, November 19th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Richard Howes bought 70 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was purchased at an average price of GBX 2,496 per share, with a total value of £1,747.20. Also, insider Simon Pryce bought 68 shares of the stock in a transaction dated Monday, February 2nd. The stock was purchased at an average price of GBX 2,496 per share, with a total value of £1,697.28. 0.78% of the stock is currently owned by corporate insiders.

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.