STERIS (NYSE:STE) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of STERIS (NYSE:STE) from a neutral rating to an overweight rating in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. They currently have $260.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $230.00.

Several other equities research analysts also recently weighed in on STE. StockNews.com upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. KeyCorp lifted their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.00.

STERIS Stock Down 1.4 %

Shares of NYSE STE opened at $224.12 on Thursday. The stock has a market cap of $22.15 billion, a PE ratio of 58.67 and a beta of 0.84. STERIS has a 52-week low of $195.47 and a 52-week high of $248.24. The business has a 50-day moving average price of $234.76 and a 200 day moving average price of $226.34. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $2.00 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts forecast that STERIS will post 9.06 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were issued a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. This is an increase from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio (DPR) is 59.69%.

Insider Activity

In related news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its stake in shares of STERIS by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after purchasing an additional 778,613 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in STERIS by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after buying an additional 120,616 shares in the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of STERIS by 23.5% in the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after acquiring an additional 282,387 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of STERIS by 29.7% in the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after acquiring an additional 263,383 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of STERIS by 0.9% in the second quarter. Principal Financial Group Inc. now owns 1,017,888 shares of the medical equipment provider’s stock valued at $223,467,000 after acquiring an additional 8,601 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.