StockNews.com Downgrades STERIS (NYSE:STE) to Buy

StockNews.com downgraded shares of STERIS (NYSE:STE) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

STE has been the subject of several other reports. KeyCorp lifted 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. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Finally, Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Trading Up 1.5 %

NYSE:STE opened at $225.18 on Tuesday. The company has a market capitalization of $22.21 billion, a P/E ratio of 55.88 and a beta of 0.84. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. STERIS has a 12 month low of $195.47 and a 12 month high of $248.24. The firm has a fifty day simple moving average of $233.72 and a 200-day simple moving average of $226.84.

STERIS (NYSE:STE) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 EPS. On average, equities research analysts anticipate that STERIS will post 9.02 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is presently 56.58%.

Insider Activity at STERIS

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

Institutional Investors Weigh In On STERIS

Institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp lifted its position in shares of STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 53 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in STERIS in the 3rd quarter valued at $28,000. Quent Capital LLC lifted its holdings in STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares in the last quarter. Headlands Technologies LLC acquired a new stake in STERIS during the 1st quarter worth $36,000. Finally, Versant Capital Management Inc grew its holdings in shares of STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 181 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

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.