STERIS (NYSE:STE) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of STERIS (NYSE:STE) from a buy rating to a strong-buy rating in a research note issued to investors on Monday.

A number of other research analysts have also weighed in on STE. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Stephens restated an “overweight” rating and set a $260.00 price target on shares of STERIS in a report on Wednesday, August 7th. KeyCorp upped their price objective on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.00.

STERIS Stock Down 0.2 %

NYSE STE opened at $221.15 on Monday. 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 stock has a market cap of $21.86 billion, a PE ratio of 57.89 and a beta of 0.84. The stock’s 50 day moving average is $234.99 and its 200 day moving average is $226.17.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion for 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 company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Research analysts predict that STERIS will post 9.06 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were given a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. STERIS’s dividend payout ratio (DPR) is currently 59.69%.

Insider Buying and Selling at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now owns 582 shares in the company, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $113,368.64. Following the completion of the sale, the director now owns 582 shares in the company, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

A number of large investors have recently bought and sold shares of the business. West Coast Financial LLC lifted its position in shares of 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 purchasing an additional 45 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in 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 valued at $1,356,000 after buying an additional 46 shares in the last quarter. J.Safra Asset Management Corp boosted its position in STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 53 shares during the period. Mather Group LLC. grew its stake in STERIS by 7.6% in the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock worth $172,000 after acquiring an additional 54 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of STERIS by 16.5% during the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock worth $82,000 after acquiring an additional 57 shares during the period. Hedge funds and other 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.