STERIS (NYSE:STE) Given New $237.00 Price Target at Needham & Company LLC

STERIS (NYSE:STEGet Rating) had its price objective reduced by stock analysts at Needham & Company LLC from $248.00 to $237.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 11.80% from the company’s previous close.

A number of other brokerages also recently weighed in on STE. Piper Sandler assumed coverage on shares of STERIS in a report on Thursday, July 14th. They set an “overweight” rating and a $240.00 target price on the stock. StockNews.com downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet downgraded shares of STERIS from a “b-” rating to a “c” rating in a report on Thursday, June 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.71.

STERIS Stock Performance

Shares of STE stock opened at $211.98 on Thursday. The company’s fifty day simple moving average is $212.61 and its 200-day simple moving average is $225.17. The company has a quick ratio of 1.41, a current ratio of 2.03 and a debt-to-equity ratio of 0.44. The firm has a market cap of $21.21 billion, a PE ratio of 56.83 and a beta of 0.71. STERIS has a 12 month low of $192.40 and a 12 month high of $255.93.

STERIS (NYSE:STEGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The medical equipment provider reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. STERIS had a net margin of 7.90% and a return on equity of 12.40%. Equities research analysts expect that STERIS will post 8.5 EPS for the current fiscal year.

Insider Buying and Selling at STERIS

In other STERIS news, VP John Adam Zangerle sold 2,659 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $205.31, for a total value of $545,919.29. Following the transaction, the vice president now directly owns 27,936 shares in the company, valued at $5,735,540.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of STERIS by 1.3% in the first quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock valued at $2,786,586,000 after acquiring an additional 143,253 shares during the period. BlackRock Inc. boosted its position in shares of STERIS by 0.7% in the first quarter. BlackRock Inc. now owns 8,187,989 shares of the medical equipment provider’s stock valued at $1,979,609,000 after acquiring an additional 59,414 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of STERIS by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,363,147 shares of the medical equipment provider’s stock valued at $1,054,878,000 after acquiring an additional 81,040 shares during the period. State Street Corp boosted its position in shares of STERIS by 0.4% in the first quarter. State Street Corp now owns 4,229,089 shares of the medical equipment provider’s stock valued at $1,022,467,000 after acquiring an additional 17,292 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of STERIS by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,855,821 shares of the medical equipment provider’s stock valued at $450,622,000 after acquiring an additional 12,804 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

About STERIS

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STERIS plc provides infection prevention and other procedural 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; accessories for gastrointestinal (GI) procedures, 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.

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Analyst Recommendations for STERIS (NYSE:STE)

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