Panmure Liberum sees around 20% upside in Smiths Group (LSE:SMIN) after the engineering group completed the £2bn sale of Smiths Detection and lined up a fresh £1.5bn buyback. The stockbroker repeated a Buy rating and 3,070p target price (current price: 2,560p), with the pitch being that the streamlined continuing business remains undervalued.
Smiths Group LON: SMIN lowered its full-year organic revenue growth outlook after Middle East-related disruption weighed on its John Crane business in the third quarter, Chief Financial Officer Julian Fagge said on the company's Q3 2026 trading update call.
Smiths Group plc (SMGZY) Discusses Strategic Portfolio Repositioning and Performance Update in Industrial Engineering Transcript
| Machinery Industry | Industrials Sector | Roland Henry Clyne Carter CEO | XSTU Exchange | US83238P2039 ISIN |
| GB Country | 16,103 Employees | 7 Apr 2026 Last Dividend | 16 Nov 2010 Last Split | - IPO Date |
Smiths Group plc stakes its position in the global market as a diversified technology company with deep roots reaching back to 1851. Originally known as Smiths Industries, the company underwent a rebranding to Smiths Group plc in 2000, marking a new era of expansion and innovation. Headquartered in London, United Kingdom, Smiths Group serves a wide array of sectors including medical technology, security and defense, general industrial operations, energy, and even space and aerospace markets. Its organizational structure is built around five key divisions: John Crane, Smiths Detection, Flex-Tek, Smiths Interconnect, and Smiths Medical. Each division is targeted at leveraging technology to meet the specific needs of its diverse clientele worldwide, demonstrating Smiths Group's commitment to innovation and excellence across various industries.
This division is a powerhouse in the provision of mechanical seals, seal support systems, hydrodynamic bearings, packing materials, power transmission couplings, and specialized filtration systems. Catering largely to industrial clients, John Crane's solutions are pivotal in enhancing operational efficiency and reliability in harsh and demanding environments.
Smiths Detection stands at the forefront of safety and security by offering advanced sensors and systems. These technologies are capable of detecting and identifying explosives, narcotics, weapons, chemical agents, biohazards, and contraband, serving critical roles in border security, military, and public safety scenarios.
Flex-Tek delivers engineered components that are integral to heating and moving fluids and gases. Its products find applications in a broad spectrum of fields including aerospace, medical, industrial activities, construction, and even domestic appliances, reflecting the division’s versatility and innovative approach.
This division specializes in providing sophisticated electronic and radio frequency board-level and waveguide devices, connectors, cables, test sockets, and sub-systems. Its products are vital across security and defense, medical, general industrial, and space and aerospace markets, where reliability and precision are paramount.
Smiths Medical is a key player in the healthcare sector, offering a range of essential products including infusion systems, vascular access solutions, patient airway and temperature management equipment, along with specialized devices for diagnostic and emergency patient transport. These products underline Smiths Group's commitment to enhancing patient care and medical outcomes.