STERIS (NYSE:STE) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of STERIS (NYSE:STE) in a research note released on Monday,Benzinga reports. They currently have a $265.00 price objective on the medical equipment provider’s stock.

A number of other equities research analysts also recently commented on STE. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Stephens reaffirmed an “overweight” rating and set a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

STERIS Trading Up 1.7 %

Shares of NYSE STE opened at $215.77 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. STERIS has a 52 week low of $195.47 and a 52 week high of $248.24. The business has a 50 day simple moving average of $228.50 and a 200 day simple moving average of $228.58. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 49.26 and a beta of 0.85.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $2.03 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, research analysts predict that STERIS will post 9.15 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.06%. STERIS’s dividend payout ratio (DPR) is 52.05%.

Insider Activity at STERIS

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 shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now 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 filing with the SEC, which is available through this link. 1.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On STERIS

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of STERIS in the 3rd quarter worth approximately $25,000. Central Pacific Bank Trust Division bought a new position in STERIS in the third quarter valued at $28,000. Quent Capital LLC lifted its holdings in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in STERIS by 154.7% in 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. 94.69% of the stock is owned by institutional investors and hedge funds.

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.