STERIS’s (STE) Overweight Rating Reaffirmed at Stephens

STERIS (NYSE:STE)‘s stock had its “overweight” rating reaffirmed by stock analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $260.00 price objective on the medical equipment provider’s stock. Stephens’ price target would suggest a potential upside of 21.46% from the company’s previous close.

STE has been the topic of a number of other reports. KeyCorp lifted their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Stock Down 5.9 %

NYSE:STE traded down $13.45 on Thursday, reaching $214.07. The stock had a trading volume of 681,380 shares, compared to its average volume of 484,904. The stock has a market cap of $21.11 billion, a P/E ratio of 52.93 and a beta of 0.85. STERIS has a 12-month low of $195.47 and a 12-month high of $248.24. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $233.17 and a 200 day moving average of $227.60.

STERIS (NYSE:STE) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.11 by $0.03. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.03 EPS. On average, research analysts predict that STERIS will post 9.02 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael J. Tokich sold 23,332 shares of the 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.14% of the stock is currently owned by corporate insiders.

Institutional Trading of STERIS

Several hedge funds have recently added to or reduced their stakes in STE. Mirae Asset Global Investments Co. Ltd. raised its stake in STERIS by 1.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,691 shares of the medical equipment provider’s stock valued at $4,652,000 after purchasing an additional 346 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of STERIS by 4.3% in the first quarter. Nordea Investment Management AB now owns 6,570 shares of the medical equipment provider’s stock valued at $1,478,000 after purchasing an additional 269 shares in the last quarter. Quent Capital LLC increased its holdings in STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 71 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in STERIS by 3.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 23,415 shares of the medical equipment provider’s stock valued at $5,264,000 after purchasing an additional 741 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of STERIS by 52.1% in the 1st quarter. Empowered Funds LLC now owns 1,729 shares of the medical equipment provider’s stock valued at $389,000 after purchasing an additional 592 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.