STERIS (NYSE:STE) Given New $265.00 Price Target at Piper Sandler

STERIS (NYSE:STE) had its price objective boosted by Piper Sandler from $260.00 to $265.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical equipment provider’s stock.

Other equities research analysts also recently issued reports about the stock. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Monday, November 18th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $263.75.

STERIS Trading Down 1.1 %

NYSE STE opened at $218.23 on Monday. The company’s 50-day simple moving average is $212.15 and its two-hundred day simple moving average is $224.70. STERIS has a one year low of $197.82 and a one year high of $248.24. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 49.82 and a beta of 0.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $2.03 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Equities analysts forecast that STERIS will post 9.11 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.04%. STERIS’s dividend payout ratio is presently 52.05%.

Insiders Place Their Bets

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. 1.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of STE. Ashton Thomas Securities LLC acquired a new stake in shares of STERIS in the third quarter valued at approximately $25,000. Human Investing LLC purchased a new position in shares of STERIS during the 4th quarter worth $31,000. Central Pacific Bank Trust Division boosted its position in shares of STERIS by 65.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 76 shares during the last quarter. Manchester Capital Management LLC grew its holdings in shares of STERIS by 182.7% in the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 137 shares during the period. Finally, Quarry LP purchased a new stake in shares of STERIS in the third quarter valued at about $67,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.