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

STERIS (NYSE:STE) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

Other analysts have also recently issued reports about the company. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. Finally, KeyCorp raised their price objective on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.00.

STERIS Stock Performance

STERIS stock opened at $221.54 on Monday. STERIS has a 1 year low of $195.47 and a 1 year high of $248.24. The company’s 50-day moving average is $235.22 and its two-hundred day moving average is $226.21. 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 $21.85 billion, a PE ratio of 54.97 and a beta of 0.84.

STERIS (NYSE:STE) last announced 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. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $2.00 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts anticipate that STERIS will post 9.06 earnings per share for the current year.

Insider Activity

In other news, Director Christopher S. Holland sold 473 shares of the company’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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’s 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 sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC increased its position in shares of STERIS by 23.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after purchasing an additional 229 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in STERIS in the first quarter valued at $5,714,000. Wealth Enhancement Advisory Services LLC grew its position in shares of STERIS by 14.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,140 shares of the medical equipment provider’s stock valued at $1,156,000 after acquiring an additional 663 shares during the period. Artemis Investment Management LLP increased its stake in shares of STERIS by 21.0% during the 1st quarter. Artemis Investment Management LLP now owns 179,837 shares of the medical equipment provider’s stock worth $40,410,000 after purchasing an additional 31,162 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC raised its holdings in shares of STERIS by 2.9% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 24,937 shares of the medical equipment provider’s stock valued at $5,606,000 after purchasing an additional 704 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.