Smiths Group (LON:SMIN) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Smiths Group shares rose above their 200-day moving average of GBX 2,536.54, reaching GBX 2,683 before last trading at GBX 2,647 on volume of 892,178 shares.
• Analysts remain broadly positive, with four Buy and two Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of GBX 2,876.67. JPMorgan recently raised its target to GBX 3,100, while Berenberg maintained a GBX 3,000 target.
• The company has a £7.80 billion market capitalization and trades at a price-to-earnings ratio of 34.47; insider Richard Howes also purchased 67 shares for approximately £1,781.

Smiths Group plc (LON:SMIN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,536.54 and traded as high as GBX 2,683. Smiths Group shares last traded at GBX 2,647, with a volume of 892,178 shares.

Wall Street Analyst Weigh In

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

Smiths Group Stock Performance

The company's fifty day moving average is GBX 2,582.24 and its two-hundred day moving average is GBX 2,536.54. 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 stock has a market cap of £7.80 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 0.35 and a beta of 0.73.

Insider Activity

In other news, insider Richard Howes acquired 67 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of GBX 2,658 per share, with a total value of £1,780.86. Company insiders own 0.85% of the company's stock.

Smiths Group Company Profile

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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