STERIS (NYSE:STE) Downgraded by StockNews.com to “Hold”

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

STE has been the subject of a number of other research reports. JMP Securities restated a market outperform rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday, February 8th. KeyCorp began coverage on shares of STERIS in a report on Tuesday, February 6th. They issued an overweight rating and a $253.00 price objective on the stock. TheStreet upgraded shares of STERIS from a c+ rating to a b rating in a research report on Wednesday, February 7th. Stephens reaffirmed an overweight rating and set a $250.00 price target on shares of STERIS in a research report on Friday, February 9th. Finally, Needham & Company LLC reiterated a hold rating on shares of STERIS in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $239.60.

STERIS Stock Up 0.8 %

NYSE:STE traded up $1.58 during mid-day trading on Friday, hitting $207.82. 500,555 shares of the company’s stock traded hands, compared to its average volume of 570,130. The company has a fifty day moving average of $218.46 and a 200 day moving average of $216.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. STERIS has a twelve month low of $185.22 and a twelve month high of $254.00. The company has a market capitalization of $20.53 billion, a P/E ratio of 36.40 and a beta of 0.81.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.05. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.02 earnings per share. On average, analysts forecast that STERIS will post 8.67 EPS for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a yield of 1.00%. STERIS’s payout ratio is 36.43%.

Institutional Investors Weigh In On STERIS

Several hedge funds have recently modified their holdings of STE. Vanguard Group Inc. boosted its position in STERIS by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock worth $2,608,434,000 after purchasing an additional 53,526 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of STERIS by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,811,818 shares of the medical equipment provider’s stock valued at $1,277,728,000 after buying an additional 77,152 shares in the last quarter. Northern Trust Corp lifted its position in shares of STERIS by 0.5% during the 3rd quarter. Northern Trust Corp now owns 1,218,012 shares of the medical equipment provider’s stock valued at $267,256,000 after buying an additional 6,101 shares in the last quarter. Norges Bank acquired a new stake in STERIS in the 4th quarter valued at $220,954,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in STERIS by 4.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 976,402 shares of the medical equipment provider’s stock worth $208,491,000 after acquiring an additional 44,781 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.