STERIS (NYSE:STE) PT Raised to $265.00 at KeyCorp

STERIS (NYSE:STE) had its target price upped by KeyCorp from $255.00 to $265.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Other research analysts have also recently issued reports about the stock. Stephens restated an overweight rating and set a $260.00 price target on shares of STERIS in a report on Wednesday, August 7th. JMP Securities restated a market outperform rating and set a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. StockNews.com raised shares of STERIS from a hold rating to a buy rating in a research report on Tuesday, August 13th. Piper Sandler reaffirmed a neutral rating and issued a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of STERIS in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, STERIS currently has a consensus rating of Moderate Buy and a consensus target price of $246.00.

STERIS Trading Up 0.3 %

STE opened at $239.83 on Tuesday. STERIS has a 1-year low of $195.47 and a 1-year high of $245.81. 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 market cap of $23.71 billion, a P/E ratio of 62.78 and a beta of 0.83. The company has a fifty day moving average price of $230.92 and a two-hundred day moving average price of $224.83.

STERIS (NYSE:STE) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 earnings per share. Analysts predict that STERIS will post 9.15 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be given a $0.57 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is 59.69%.

Insider Activity

In other news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several hedge funds and other institutional investors have recently modified their holdings of STE. Norges Bank bought a new stake in shares of STERIS in the fourth quarter valued at approximately $220,954,000. Massachusetts Financial Services Co. MA increased its holdings in STERIS by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after acquiring an additional 778,613 shares during the period. APG Asset Management US Inc. bought a new stake in STERIS during the 4th quarter worth approximately $74,963,000. Sustainable Growth Advisers LP increased its holdings in STERIS by 23.5% during the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after acquiring an additional 282,387 shares during the period. Finally, Impax Asset Management Group plc increased its holdings in STERIS by 29.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after acquiring an additional 263,383 shares during the period. 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.