STERIS (NYSE:STE) Given Hold Rating at Needham & Company LLC

STERIS (NYSE:STE)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

A number of other equities analysts also recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Stephens restated an “overweight” rating and set a $260.00 price target on shares of STERIS in a report on Thursday. KeyCorp increased 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. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, STERIS has an average rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Trading Down 5.3 %

STE opened at $215.50 on Friday. STERIS has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The firm has a market capitalization of $21.25 billion, a PE ratio of 49.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The company’s 50-day moving average is $232.73 and its 200 day moving average is $227.52.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.11 by $0.03. The firm had revenue of $1.33 billion during 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 company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. As a group, research analysts predict that STERIS will post 9.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On STERIS

Several large investors have recently added to or reduced their stakes in STE. Bleakley Financial Group LLC grew its stake in STERIS by 8.7% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock valued at $407,000 after buying an additional 134 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in STERIS by 8.3% during the 1st 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 in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings 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 purchasing an additional 3,342 shares in the last quarter. BDF Gestion bought a new position in STERIS in the 2nd quarter worth about $2,644,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in STERIS by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after buying an additional 120,616 shares in the last quarter. Hedge funds and other institutional investors 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.