STERIS (NYSE:STE) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of STERIS (NYSE:STE) from a buy rating to a hold rating in a research report released on Monday morning.

A number of other equities research analysts have also recently weighed in on STE. Needham & Company LLC reaffirmed a hold rating on shares of STERIS in a research note on Friday, May 10th. Piper Sandler reaffirmed a neutral rating and issued a $225.00 price objective (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $265.00 price objective on shares of STERIS in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $241.60.

STERIS Stock Performance

STERIS stock traded up $1.28 during midday trading on Monday, hitting $239.18. 844,445 shares of the company were exchanged, compared to its average volume of 487,674. The firm has a market capitalization of $23.64 billion, a PE ratio of 63.19 and a beta of 0.83. STERIS has a fifty-two week low of $195.47 and a fifty-two week high of $243.19. The business has a fifty day simple moving average of $224.15 and a two-hundred day simple moving average of $222.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08.

STERIS (NYSE:STE) last released its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.17. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business posted $2.30 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that STERIS will post 9.16 earnings per share for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.95%. This is a boost from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is presently 59.69%.

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 2,024 shares of STERIS stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $232.13, for a total transaction of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of STERIS stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 2,024 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The disclosure for this sale can be found here. Insiders sold 7,762 shares of company stock valued at $1,798,477 in the last three months. 1.14% of the stock is owned by corporate insiders.

Institutional Trading of STERIS

Several institutional investors and hedge funds have recently made changes to their positions in STE. Arizona State Retirement System lifted its holdings in shares of STERIS by 0.9% in the 4th quarter. Arizona State Retirement System now owns 27,149 shares of the medical equipment provider’s stock valued at $5,969,000 after purchasing an additional 235 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in shares of STERIS by 1.3% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 56,192 shares of the medical equipment provider’s stock valued at $12,354,000 after purchasing an additional 740 shares during the last quarter. International Assets Investment Management LLC acquired a new position in STERIS in the 4th quarter valued at about $2,223,000. Prime Capital Investment Advisors LLC acquired a new position in STERIS in the 4th quarter valued at about $2,740,000. Finally, LA Financiere DE L Echiquier increased its position in STERIS by 8.0% in the 4th quarter. LA Financiere DE L Echiquier now owns 66,231 shares of the medical equipment provider’s stock valued at $14,561,000 after acquiring an additional 4,883 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.