STERIS (NYSE:STE) Receives “Market Outperform” Rating from JMP Securities

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

A number of other research firms have also weighed in on STE. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. KeyCorp raised 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. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Finally, Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Stock Performance

NYSE:STE opened at $217.04 on Monday. STERIS has a 1-year low of $195.47 and a 1-year high of $248.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The business has a 50 day moving average of $230.37 and a 200 day moving average of $228.59. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 49.55 and a beta of 0.85.

STERIS (NYSE:STE) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.33 billion. During the same quarter last year, the firm earned $2.03 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that STERIS will post 9.15 earnings per share for the current fiscal year.

STERIS Dividend Announcement

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

Insider Activity at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. This trade represents a 35.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On STERIS

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its position in 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 valued at $1,414,453,000 after buying an additional 778,613 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of STERIS by 7,418.7% during the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock valued at $75,132,000 after acquiring an additional 305,651 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of STERIS by 29.7% in the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after purchasing an additional 263,383 shares during the last quarter. American Century Companies Inc. boosted its stake in STERIS by 1,946.3% in the 2nd quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock worth $59,344,000 after purchasing an additional 257,101 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in STERIS by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after purchasing an additional 120,616 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

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.