TD Securities Boosts Steris Plc (STE) Price Target to C$16.00

Steris Plc (NYSE:STE) had its target price upped by TD Securities from C$14.00 to C$16.00 in a research note released on Thursday morning, StockTargetPrices.com reports. TD Securities currently has a buy rating on the medical equipment provider’s stock.

Other research analysts also recently issued reports about the company. Raymond James Financial, Inc. raised their price target on Steris Plc from $95.00 to $100.00 and gave the company an outperform rating in a research note on Monday, October 16th. BidaskClub downgraded Steris Plc from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Steris Plc from a buy rating to a sell rating in a research note on Monday, November 6th. Finally, KeyCorp reaffirmed an overweight rating and issued a $101.00 price objective (up from $91.00) on shares of Steris Plc in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $77.80.

Steris Plc (STE) traded down $1.30 during mid-day trading on Thursday, reaching $86.85. The company’s stock had a trading volume of 235,400 shares, compared to its average volume of 475,037. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.18 and a current ratio of 2.80. The company has a market capitalization of $7,420.00, a P/E ratio of 22.38 and a beta of 1.31. Steris Plc has a 12-month low of $64.37 and a 12-month high of $93.39.

Steris Plc (NYSE:STE) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.01). The company had revenue of $634.20 million during the quarter, compared to the consensus estimate of $629.02 million. Steris Plc had a net margin of 5.59% and a return on equity of 11.49%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. equities analysts forecast that Steris Plc will post 4.06 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 22nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.43%. Steris Plc’s payout ratio is 73.81%.

In related news, Director Richard Martin Steeves sold 156,072 shares of Steris Plc stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $87.13, for a total transaction of $13,598,553.36. Following the completion of the sale, the director now directly owns 9,362 shares of the company’s stock, valued at approximately $815,711.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of Steris Plc stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $85.69, for a total value of $856,900.00. Following the sale, the chief executive officer now directly owns 83,270 shares of the company’s stock, valued at $7,135,406.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,342 shares of company stock valued at $17,729,692. Insiders own 2.55% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Dearborn Partners LLC lifted its holdings in Steris Plc by 0.3% during the 3rd quarter. Dearborn Partners LLC now owns 331,640 shares of the medical equipment provider’s stock worth $29,317,000 after purchasing an additional 963 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Steris Plc by 7.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 621,958 shares of the medical equipment provider’s stock worth $54,976,000 after purchasing an additional 45,038 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Steris Plc by 6.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 346,617 shares of the medical equipment provider’s stock worth $30,641,000 after purchasing an additional 20,932 shares during the last quarter. Barings LLC lifted its holdings in Steris Plc by 19.5% during the 3rd quarter. Barings LLC now owns 4,900 shares of the medical equipment provider’s stock worth $433,000 after purchasing an additional 800 shares during the last quarter. Finally, CKW Financial Group acquired a new stake in Steris Plc during the 3rd quarter worth approximately $297,000. 93.50% of the stock is owned by institutional investors and hedge funds.

About Steris Plc

STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.

Stock Target Prices

Analyst Recommendations for Steris Plc (NYSE:STE)

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