Smiths Group (LON:SMIN) Declares Stock Buyback Program

Smiths Group (LON:SMIN) declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 19th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Smiths Group in a research note on Friday, October 17th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Smiths Group Trading Down 1.0%

Shares of SMIN traded down GBX 24 during trading hours on Wednesday, hitting GBX 2,420. The company had a trading volume of 643,295 shares, compared to its average volume of 2,932,423. The firm has a market cap of £7.84 billion, a P/E ratio of 28.37, a P/E/G ratio of 0.35 and a beta of 0.66. Smiths Group has a 52-week low of GBX 1,671 and a 52-week high of GBX 2,561. The stock’s 50 day moving average price is GBX 2,423.16 and its 200 day moving average price is GBX 2,308.11. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 29.55.

Smiths Group (LON:SMIN) last issued its earnings results on Tuesday, September 23rd. The company reported GBX 85.70 EPS for the quarter. Smiths Group had a net margin of 7.98% and a return on equity of 11.54%. On average, research analysts predict that Smiths Group will post 85.1295337 EPS for the current year.

Insider Activity at Smiths Group

In other Smiths Group news, insider Karin Hoeing purchased 224 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average cost of GBX 2,522 per share, with a total value of £5,649.28. Also, insider Julian Fagge sold 26,199 shares of Smiths Group stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of GBX 2,421, for a total transaction of £634,277.79. Company 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.