STERIS (NYSE:STE) Reaches New 52-Week High Following Earnings Beat

STERIS plc (NYSE:STE)’s stock price hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $262.13 and last traded at $261.3080, with a volume of 43502 shares trading hands. The stock had previously closed at $243.18.

The medical equipment provider reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company earned $2.14 EPS. STERIS has set its FY 2026 guidance at 10.150-10.30 EPS.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Tuesday, November 18th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, November 18th. STERIS’s payout ratio is 38.59%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of STERIS in a research report on Tuesday, October 14th. Morgan Stanley boosted their price objective on shares of STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and an average target price of $273.50.

Insider Activity

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the sale, the vice president owned 7,221 shares of the company’s stock, valued at approximately $1,799,762.04. The trade was a 30.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mohsen Sohi sold 4,110 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the sale, the director directly owned 22,361 shares in the company, valued at $5,410,467.56. This trade represents a 15.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,868 shares of company stock worth $4,585,389 over the last 90 days. 1.07% of the stock is currently owned by insiders.

Institutional Trading of STERIS

Several large investors have recently made changes to their positions in the business. Allworth Financial LP raised its position in STERIS by 7.3% during the second quarter. Allworth Financial LP now owns 661 shares of the medical equipment provider’s stock worth $159,000 after acquiring an additional 45 shares during the period. Geneos Wealth Management Inc. increased its position in STERIS by 34.9% during the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in STERIS by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,494 shares of the medical equipment provider’s stock worth $865,000 after purchasing an additional 48 shares during the last quarter. Procyon Advisors LLC increased its position in STERIS by 5.9% during the third quarter. Procyon Advisors LLC now owns 891 shares of the medical equipment provider’s stock worth $220,000 after purchasing an additional 50 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its stake in STERIS by 3.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider’s stock worth $365,000 after buying an additional 54 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Trading Up 7.5%

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The company has a market cap of $25.75 billion, a PE ratio of 40.04 and a beta of 1.02. The company’s 50 day simple moving average is $243.30 and its two-hundred day simple moving average is $238.43.

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.