STERIS plc (NYSE:STE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of STERIS plc (NYSE:STE) have received an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $262.50.

STE has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Stephens restated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. KeyCorp increased their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th.

Insider Activity

In other news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares in the company, valued at $2,471,363.04. This represents a 12.88 % 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. Company insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after purchasing an additional 529,308 shares during the period. Tidal Investments LLC lifted its holdings in STERIS by 21.0% in the third quarter. Tidal Investments LLC now owns 12,650 shares of the medical equipment provider’s stock valued at $3,068,000 after acquiring an additional 2,193 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in STERIS in the third quarter worth approximately $9,949,000. World Investment Advisors LLC acquired a new stake in STERIS during the third quarter worth $5,171,000. Finally, SkyView Investment Advisors LLC raised its position in STERIS by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock valued at $765,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STE opened at $208.00 on Tuesday. The stock has a fifty day moving average price of $218.52 and a 200-day moving average price of $226.48. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. STERIS has a 12 month low of $197.82 and a 12 month high of $248.24. The firm has a market cap of $20.53 billion, a PE ratio of 47.49 and a beta of 0.83.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. Equities research analysts predict that STERIS will post 9.1 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.10%. STERIS’s payout ratio is currently 52.05%.

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.