Smiths Group (LON:SMIN) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Smiths Group plc (LON:SMIN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,415.95 and traded as high as GBX 2,590. Smiths Group shares last traded at GBX 2,586, with a volume of 1,807,207 shares traded.

Wall Street Analysts Forecast Growth

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

Smiths Group Price Performance

The stock has a market capitalization of £8.28 billion, a PE ratio of 30.83, 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. The business’s 50-day moving average price is GBX 2,458.61 and its 200 day moving average price is GBX 2,415.95.

Smiths Group declared that its board has approved a share buyback 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 generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Richard Howes acquired 70 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was bought at an average cost of GBX 2,496 per share, with a total value of £1,747.20. Also, insider Simon Pryce acquired 68 shares of the business’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 £1,697.28. 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.