Deutsche Bank Lowers Smiths Group (SMIN) to Hold

Deutsche Bank downgraded shares of Smiths Group (LON:SMIN) to a hold rating in a report published on Tuesday morning. The brokerage currently has GBX 1,665 ($21.69) target price on the stock, down from their prior target price of GBX 1,750 ($22.80).

Other equities analysts have also recently issued reports about the company. Citigroup started coverage on Smiths Group in a report on Wednesday, September 19th. They set a buy rating and a GBX 1,850 ($24.10) price target on the stock. Deutsche Bank reissued a buy rating on shares of Smiths Group in a report on Tuesday, May 29th. Morgan Stanley reduced their price objective on Smiths Group from GBX 1,710 ($22.27) to GBX 1,690 ($22.01) and set an equal weight rating for the company in a research note on Tuesday, July 24th. Liberum Capital initiated coverage on Smiths Group in a research note on Thursday, September 6th. They issued a hold rating and a GBX 1,700 ($22.14) price objective for the company. Finally, Numis Securities upgraded Smiths Group to a hold rating and set a GBX 1,750 ($22.80) price objective for the company in a research note on Tuesday, May 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of GBX 1,720 ($22.40).

LON SMIN opened at GBX 1,512 ($19.70) on Tuesday. Smiths Group has a 1-year low of GBX 1,442 ($18.78) and a 1-year high of GBX 1,697 ($22.10).

The business also recently disclosed a dividend, which will be paid on Friday, November 16th. Stockholders of record on Thursday, October 18th will be paid a GBX 30.75 ($0.40) dividend. This represents a dividend yield of 2.02%. This is a positive change from Smiths Group’s previous dividend of $13.80. The ex-dividend date is Thursday, October 18th.

In related news, insider Olivier Bohuon acquired 2,972 shares of Smiths Group stock in a transaction dated Thursday, September 27th. The stock was purchased at an average cost of GBX 1,496 ($19.49) per share, for a total transaction of £44,461.12 ($57,914.71). Also, insider George Buckley acquired 779 shares of Smiths Group stock in a transaction dated Wednesday, August 1st. The stock was bought at an average price of GBX 1,606 ($20.92) per share, with a total value of £12,510.74 ($16,296.39).

About Smiths Group

Smiths Group plc designs, manufactures, and sells various products and services for the threat and contraband detection, medical devices, energy, communications, and engineered components markets worldwide. It operates through John Crane, Smiths Medical, Smiths Detection, Smiths Interconnect, and Flex-Tek divisions.

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