Brokerages Set STERIS plc (NYSE:STE) Target Price at $262.50

STERIS plc (NYSE:STE) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $262.50.

A number of brokerages have recently commented on STE. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Monday, November 18th. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. 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 note on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On STERIS

Large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in STERIS during the 3rd quarter worth approximately $25,000. Central Pacific Bank Trust Division acquired a new position in STERIS during the 3rd quarter worth approximately $28,000. Brown Brothers Harriman & Co. boosted its position in STERIS by 154.7% during 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. Quarry LP acquired a new position in STERIS during the 3rd quarter worth approximately $67,000. Finally, Asset Dedication LLC boosted its position in STERIS by 54.8% during the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Up 0.7 %

Shares of NYSE STE opened at $218.54 on Friday. The firm’s 50-day simple moving average is $211.68 and its 200 day simple moving average is $224.74. The company has a market cap of $21.57 billion, a price-to-earnings ratio of 49.89 and a beta of 0.84. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. STERIS has a 12-month low of $197.82 and a 12-month high of $248.24.

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 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 period in the prior year, the company posted $2.03 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that STERIS will post 9.1 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, November 19th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.04%. STERIS’s payout ratio is 52.05%.

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.