London, Jan 17, 2026, 09:21 GMT — Market is now closed.
Smiths Group Plc (SMIN.L) shares climbed 1.95% on Friday, finishing at 2,612 pence and hitting a new 52-week high, even as the FTSE 100 slipped 0.04%. The stock surpassed its previous peak of 2,574 pence from the day before. Trading volume stood at 789,474 shares, below the 50-day average of roughly 1.1 million. (MarketWatch)
The recent gain came after a 4.15% surge on Thursday to 2,562 pence, marking another fresh one-year peak, in a session where the FTSE 100 climbed 0.54%. Smiths has made two swift advances up the range ahead of Monday’s reopening. (MarketWatch)
Why it matters now is clear: Smiths has been aggressively buying back its own shares, and each buyback shrinks the float. Trading near a 52-week high, the stock grows more reactive — both to how quickly those purchases happen and to any hint that the company’s larger turnaround plan might be faltering.
Smiths revealed in a regulatory filing on Friday that it purchased 68,882 shares via HSBC, paying between 2,560 and 2,600 pence each. The company plans to cancel these shares. By buying back its own stock, Smiths aims to reduce the total share count, which could boost earnings per share provided profits remain steady. (TradingView)
Smiths rolled out a fresh £1 billion share buyback in November, timed with its Q1 trading update, following the £1.3 billion sale of Smiths Interconnect. The company stuck to its FY2026 target of 4%-6% organic revenue growth and margin gains. CEO Roland Carter described it as “a good start to the year.” (Smiths)
The bigger move is behind the scenes. In December, Smiths struck a deal to sell its Smiths Detection division to private equity firm CVC for 2 billion pounds, including debt. The company also promised to return a “large portion” of the proceeds. The deal is set to close in the second half of 2026, subject to approvals. Panmure Liberum analyst Alexandro da Silva O’Hanlon called the price “at the top end” of market expectations. (Reuters)
The timeline’s stretched out. Any hold-up or stricter scrutiny could delay cash returns, and a stock hitting a 52-week high usually moves quicker without fresh catalysts.
Friday’s rally took place on below-average volume, which cuts both ways: it indicates no rush to buy, but also sets up Monday for a real test once liquidity returns and weekend headlines roll in.
Looking ahead to the week, traders will be closely monitoring if Smiths can maintain its position above 2,600 pence once London markets reopen on Jan. 19, along with the pace of ongoing buyback announcements.
Smiths is set to release its interim results on March 20, per the investor calendar. That date offers the next clear checkpoint for investors to gauge execution and cash return momentum. (Smiths)
