STERIS plc (NYSE:STE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of STERIS plc (NYSE:STE) have received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $262.50.

Several equities analysts recently commented on STE shares. KeyCorp upped their price target 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. Stephens restated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $230.00 to $260.00 in a report on Thursday, October 24th.

STERIS Stock Performance

NYSE STE opened at $205.08 on Tuesday. STERIS has a 52-week low of $197.82 and a 52-week high of $248.24. The stock has a market cap of $20.24 billion, a PE ratio of 46.82 and a beta of 0.83. The firm has a 50-day moving average of $216.75 and a 200-day moving average of $225.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.03 earnings per share. On average, sell-side analysts anticipate that STERIS will post 9.1 EPS for the current year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.11%. STERIS’s dividend payout ratio is currently 52.05%.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

A number of institutional investors have recently added to or reduced their stakes in STE. Ashton Thomas Securities LLC bought a new stake in shares of STERIS during the third quarter worth $25,000. Central Pacific Bank Trust Division bought a new stake in STERIS during the 3rd quarter worth $28,000. Brown Brothers Harriman & Co. increased its holdings in STERIS by 154.7% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 116 shares in the last quarter. Isthmus Partners LLC bought a new position in STERIS in the second quarter valued at about $44,000. Finally, Quarry LP acquired a new stake in shares of STERIS during the third quarter valued at about $67,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

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.