STERIS’s (STE) “Overweight” Rating Reaffirmed at Stephens

STERIS (NYSE:STE)‘s stock had its “overweight” rating reaffirmed by research analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $260.00 price target on the medical equipment provider’s stock. Stephens’ price objective indicates a potential upside of 21.46% from the company’s previous close.

Several other research firms have also commented on STE. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, KeyCorp increased their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, STERIS currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Trading Down 5.9 %

NYSE:STE traded down $13.45 during trading hours on Thursday, hitting $214.07. The company had a trading volume of 681,380 shares, compared to its average volume of 484,904. STERIS has a 52 week low of $195.47 and a 52 week high of $248.24. The company has a market capitalization of $21.11 billion, a PE ratio of 52.93 and a beta of 0.85. The stock has a 50-day moving average price of $233.17 and a 200 day moving average price of $227.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49.

STERIS (NYSE:STE) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.03. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the business earned $2.03 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts predict that STERIS will post 9.02 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in STERIS in the third quarter valued at approximately $25,000. J.Safra Asset Management Corp raised its stake in shares of STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 53 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of STERIS during the 3rd quarter valued at $28,000. Quent Capital LLC lifted its holdings in shares of STERIS by 112.7% during the 1st 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 in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in STERIS during the 1st quarter worth $36,000. 94.69% of the stock is owned by institutional investors and hedge funds.

About STERIS

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.