STERIS (NYSE:STE) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of STERIS (NYSE:STE) from a hold rating to a buy rating in a report published on Tuesday morning.

A number of other equities analysts have also recently issued reports on the company. JMP Securities reiterated a market outperform rating and set a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Stephens reiterated an overweight rating and set a $260.00 target price on shares of STERIS in a report on Wednesday, August 7th. Piper Sandler reiterated a neutral rating and set a $225.00 target price (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. Finally, Needham & Company LLC reiterated a hold rating on shares of STERIS in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $243.60.

STERIS Trading Up 0.8 %

STE stock opened at $232.21 on Tuesday. STERIS has a 1-year low of $195.47 and a 1-year high of $243.37. The firm has a market cap of $22.95 billion, a P/E ratio of 60.79 and a beta of 0.83. The business’s 50 day moving average is $225.81 and its 200-day moving average is $223.56. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. STERIS’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 EPS. Equities analysts anticipate that STERIS will post 9.15 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.57 per share. This is an increase from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, September 5th. STERIS’s payout ratio is currently 59.69%.

Insider Activity

In related news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the transaction, the director now owns 582 shares in the company, valued at approximately $139,493.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.14% of the stock is currently owned by corporate insiders.

Institutional Trading of STERIS

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in STERIS by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after purchasing an additional 4,494 shares during the period. State Board of Administration of Florida Retirement System raised its stake in STERIS by 3.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after buying an additional 3,342 shares during the period. Caden Capital Partners LP boosted its holdings in STERIS by 80.0% in the fourth quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock worth $18,096,000 after acquiring an additional 36,576 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in STERIS in the first quarter valued at approximately $903,000. Finally, Perpetual Ltd increased its holdings in shares of STERIS by 9.3% during the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock valued at $9,121,000 after acquiring an additional 3,437 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

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.