STERIS (NYSE:STE) Sees Strong Trading Volume – Should You Buy?

STERIS plc (NYSE:STE) saw unusually-high trading volume on Friday . Approximately 351,770 shares were traded during mid-day trading, a decline of 28% from the previous session’s volume of 486,465 shares.The stock last traded at $216.99 and had previously closed at $215.50.

Wall Street Analysts Forecast Growth

STE has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Stephens reaffirmed an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Thursday. JMP Securities reissued a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Finally, KeyCorp raised their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Trading Up 2.1 %

The firm has a market capitalization of $21.71 billion, a PE ratio of 49.20 and a beta of 0.85. The company’s 50-day moving average price is $232.73 and its 200-day moving average price is $227.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.03. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.91% and a net margin of 8.02%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.03 EPS. On average, sell-side analysts expect that STERIS plc will post 9.02 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is 52.05%.

Insider Activity at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is owned by corporate insiders.

Institutional Trading of STERIS

Hedge funds have recently made changes to their positions in the company. West Coast Financial LLC increased its stake in STERIS by 2.8% in the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after purchasing an additional 45 shares in the last quarter. Taylor Frigon Capital Management LLC raised its stake in shares of STERIS by 0.8% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after buying an additional 46 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares in the last quarter. Mather Group LLC. grew its stake in STERIS by 7.6% in the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock valued at $172,000 after acquiring an additional 54 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in STERIS by 16.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock valued at $82,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

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.