STERIS (NYSE:STE) Stock Rating Upgraded by Piper Sandler

STERIS (NYSE:STE) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $260.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $230.00. Piper Sandler’s price target indicates a potential upside of 17.57% from the company’s current price.

A number of other analysts also recently issued reports on STE. Stephens reaffirmed an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. KeyCorp lifted their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Finally, StockNews.com raised STERIS from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Stock Down 0.2 %

Shares of NYSE STE opened at $221.15 on Thursday. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 54.88 and a beta of 0.84. 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 firm’s 50-day moving average price is $234.99 and its 200-day moving average price is $226.17.

STERIS (NYSE:STE) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 earnings per share. On average, equities research analysts anticipate that STERIS will post 9.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated Tuesday, September 10th. The shares were 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 directly owns 42,930 shares in the company, valued at $10,603,710. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Institutional investors have recently bought and sold shares of the business. West Coast Financial LLC lifted its holdings in STERIS by 2.8% during the third quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock worth $398,000 after buying an additional 45 shares during the period. Taylor Frigon Capital Management LLC lifted its stake in shares of STERIS by 0.8% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after purchasing an additional 46 shares during the last quarter. J.Safra Asset Management Corp boosted its position in STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. Mather Group LLC. grew its stake in STERIS by 7.6% in the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock valued at $172,000 after purchasing an additional 54 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in STERIS by 16.5% in the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock worth $82,000 after purchasing an additional 57 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.