STERIS’s (STE) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of STERIS (NYSE:STE) in a research note issued to investors on Monday morning,Benzinga reports. JMP Securities currently has a $265.00 price objective on the medical equipment provider’s stock.

Several other equities analysts also recently weighed in on STE. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Stephens restated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. KeyCorp upped their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Price Performance

Shares of NYSE:STE opened at $217.04 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The firm has a market cap of $21.42 billion, a price-to-earnings ratio of 49.55 and a beta of 0.85. The business has a 50-day simple moving average of $230.37 and a two-hundred day simple moving average of $228.59. STERIS has a fifty-two week low of $195.47 and a fifty-two week high of $248.24.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that STERIS will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. STERIS’s dividend payout ratio is currently 52.05%.

Insider Buying and Selling at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of STERIS in the 3rd quarter worth $25,000. Central Pacific Bank Trust Division purchased a new position in STERIS during the third quarter worth $28,000. Quent Capital LLC increased its position in STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of STERIS by 154.7% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 116 shares during the last quarter. 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.