STERIS’s (STE) Overweight Rating Reaffirmed at Stephens

STERIS (NYSE:STE)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a report released on Thursday,Benzinga reports. They presently have a $240.00 price target on the medical equipment provider’s stock. Stephens’ price target points to a potential upside of 7.32% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Piper Sandler boosted their price objective on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Monday, November 18th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Stock Performance

STE stock opened at $223.63 on Thursday. The firm has a 50 day simple moving average of $212.33 and a 200 day simple moving average of $224.59. STERIS has a 52 week low of $197.82 and a 52 week high of $248.24. The stock has a market cap of $22.07 billion, a P/E ratio of 51.06 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 posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.02% and a return on equity of 13.78%. Research analysts anticipate that STERIS will post 9.11 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STERIS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its position in shares of STERIS by 8.2% during the second quarter. Cetera Investment Advisers now owns 13,343 shares of the medical equipment provider’s stock worth $2,930,000 after buying an additional 1,013 shares during the period. Czech National Bank boosted its stake in STERIS by 6.7% during the 3rd quarter. Czech National Bank now owns 20,089 shares of the medical equipment provider’s stock valued at $4,872,000 after purchasing an additional 1,260 shares during the last quarter. GAMMA Investing LLC boosted its holdings in STERIS by 31.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,325 shares of the medical equipment provider’s stock worth $321,000 after acquiring an additional 317 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of STERIS in the 3rd quarter worth about $214,000. Finally, Strong Tower Advisory Services grew its position in STERIS by 19.7% during the third quarter. Strong Tower Advisory Services now owns 8,605 shares of the medical equipment provider’s stock valued at $2,087,000 after buying an additional 1,414 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

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.