Smiths Group (LON:SMIN) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Smiths Group shares rose above their 200-day moving average during Friday trading, briefly hitting GBX 2,567 before last trading at GBX 2,561. The move came on volume of 877,766 shares.
• Analysts remain cautiously optimistic, with four Buy ratings and two Hold ratings. The stock’s consensus rating is Moderate Buy, and the average price target is GBX 2,828.33.
• Insider buying was reported, with executives Simon Pryce and Richard Howes purchasing shares in early May at GBX 2,532 each. Insider ownership stands at 0.81% of the company.

Smiths Group plc (LON:SMIN - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,513.18 and traded as high as GBX 2,567. Smiths Group shares last traded at GBX 2,561, with a volume of 877,766 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Jefferies Financial Group reissued a "hold" rating and set a GBX 2,750 price target on shares of Smiths Group in a report on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on shares of Smiths Group from GBX 2,830 to GBX 2,810 and set an "overweight" rating for the company in a research report on Friday, May 22nd. Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 2,500 target price on shares of Smiths Group in a research note on Wednesday, July 1st. Finally, Berenberg Bank restated a "buy" rating and set a GBX 3,000 target price on shares of Smiths Group in a research report on Friday, May 22nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Smiths Group has a consensus rating of "Moderate Buy" and an average price target of GBX 2,828.33.

Smiths Group Stock Up 0.4%

The firm has a market cap of £7.64 billion, a PE ratio of 33.35, a PEG ratio of 0.35 and a beta of 0.73. The business's 50 day moving average price is GBX 2,519.21 and its 200 day moving average price is GBX 2,513.18. The company has a debt-to-equity ratio of 73.19, a current ratio of 3.04 and a quick ratio of 1.29.

Insider Activity at Smiths Group

In other news, insider Simon Pryce bought 206 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of GBX 2,532 per share, for a total transaction of £5,215.92. Also, insider Richard Howes purchased 70 shares of the stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of GBX 2,532 per share, for a total transaction of £1,772.40. 0.81% of the stock is currently owned by insiders.

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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