|Bid||17.53 x 20000|
|Ask||18.00 x 20000|
|Day's Range||17.67 - 18.70|
|52 Week Range||14.27 - 19.30|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||19.38|
|Forward Dividend & Yield||0.51 (2.72%)|
|1y Target Est||N/A|
(Bloomberg) -- Smiths Group Plc shares rose to their highest in more than a year on Monday as analysts threw support behind a potential sale of its medical-equipment business.Blackstone Group Inc. and Cinven are among buyout firms weighing bids for the U.K. industrial conglomerate’s unit, people familiar with the matter said last week. Smiths Group had said previously that it was planning to separate the medical business via a listing after talks with another suitor collapsed.A sale would be a cleaner exit than spinning off another traded business, Liberum Capital Ltd. analyst Ryan Gregory said in a note. A deal could value the medical unit at at least 3 billion pounds ($3.6 billion) based on peers’ multiples, money that could be used to strengthen Smiths Group’s remaining business, Bloomberg Intelligence analyst Johnson Imode said in a report on Friday.While the focus has been the listing, Smiths Group is open to considering offers, the people had said. The company may wait until it has a better view on potential equity market valuations before seriously engaging with any suitors, one of the people said. The unit makes devices such as patient monitors and drug delivery systems that are used in ambulances, hospitals and care homes.The stock gained as much as 1.7% to 1,698 pence, the highest intraday level since July 2018. It was trading 0.8% higher at 12:08 p.m. London time on Monday, giving the company a market value of about 6.7 billion pounds. The shares had gained 1.9% on Friday after Bloomberg News’s report.(Updates share price in final paragraph)\--With assistance from Tom Lavell.To contact the reporters on this story: David Hellier in London at firstname.lastname@example.org;Dinesh Nair in London at email@example.com;Sarah Syed in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Dinesh Nair at email@example.com, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Having tried and failed to sell its medical business three times in recent years, Britain's Smiths Group Plc is planning to offload the division by splitting it off or taking it public. The medical business, which makes syringe pumps, has been a drag.
The separation will enable the British engineering group to focus on growing as an industrial technology firm, it said on Wednesday. "Following our focus on operational improvements and increased investment, we believe it is now time to prepare the separation of Smiths Medical from the rest of the group," Chief Executive of Smiths, Andy Reynolds, said in a statement. Smiths Medical has been struggling of late, after being hit by delays in new product launches, some products losing certifications under new regulation and the loss of two contracts in the United States.