Smiths Group (LON:SMIN) Reaches New 1-Year High - Here's Why

Key Points

• Smiths Group shares reached a new 52-week high, trading as high as GBX 2,754.18 and closing the session at GBX 2,726, up from the previous close of GBX 2,688.
• Analysts remain broadly positive, with four Buy ratings and two Holds. The stock has a “Moderate Buy” consensus rating and an average price target of GBX 2,876.67, including JPMorgan’s upgraded GBX 3,100 target.
• Insider Richard Howes bought 67 shares at an average price of GBX 2,658, while Smiths Group reported a £8.07 billion market capitalization and a price-to-earnings ratio of 35.21.

Shares of Smiths Group plc (LON:SMIN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 2,754.18 and last traded at GBX 2,726, with a volume of 342016 shares changing hands. The stock had previously closed at GBX 2,688.

Wall Street Analysts Forecast Growth

Several research firms have commented on SMIN. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a GBX 2,500 price objective on shares of Smiths Group in a research note on Wednesday, July 1st. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 2,750 target price on shares of Smiths Group in a research note on Wednesday, July 1st. JPMorgan Chase & Co. boosted their target price on Smiths Group from GBX 2,810 to GBX 3,100 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Finally, Berenberg Bank restated a "buy" rating and set a GBX 3,000 price target on shares of Smiths Group in a research note on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 2,876.67.

Smiths Group Trading Up 0.6%

The company has a quick ratio of 1.29, a current ratio of 3.04 and a debt-to-equity ratio of 73.19. The business has a fifty day simple moving average of GBX 2,556.07 and a 200 day simple moving average of GBX 2,532.84. The company has a market cap of £8.07 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 0.35 and a beta of 0.73.

Insider Activity

In related news, insider Richard Howes purchased 67 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was acquired at an average price of GBX 2,658 per share, for a total transaction of £1,780.86. 0.81% of the stock is owned by corporate insiders.

About Smiths Group

For 175 years, we have been pioneers of progress, engineering a better future. Our strategy is to be a focused, efficient and value creating industrial engineering company operating in the attractive and growing market segments of flow control, thermal solutions, construction and aerospace. We focus on solving the toughest problems for our customers, helping address critical global needs such as decarbonisation and the ever-increasing demand for process and energy efficiency. We are pioneers of progress.

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