STERIS (NYSE:STE) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

STERIS (NYSE:STE) posted its quarterly earnings data on Tuesday. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16, RTT News reports. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.89%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 EPS. STERIS updated its FY25 guidance to $9.05-$9.25 EPS and its FY 2025 guidance to 9.050-9.250 EPS.

STERIS Trading Down 1.5 %

Shares of NYSE:STE traded down $3.70 during midday trading on Friday, hitting $235.98. 421,762 shares of the stock traded hands, compared to its average volume of 488,756. The stock has a market capitalization of $23.33 billion, a PE ratio of 61.76 and a beta of 0.83. The business’s 50 day moving average is $225.17 and its two-hundred day moving average is $222.88. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. STERIS has a one year low of $195.47 and a one year high of $243.37.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.97%. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. STERIS’s dividend payout ratio is 54.45%.

Insider Activity

In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jacqueline B. Kosecoff sold 4,584 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cary L. Majors sold 2,024 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the transaction, the senior vice president now owns 11,369 shares in the company, valued at approximately $2,639,085.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,762 shares of company stock valued at $1,798,477. Insiders own 1.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STE. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Thursday. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Wednesday. StockNews.com downgraded shares of STERIS from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $243.60.

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.