STERIS (NYSE:STE) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of STERIS (NYSE:STE) in a research note released on Thursday,Benzinga reports. They currently have a $265.00 target price on the medical equipment provider’s stock.

Other equities analysts have also recently issued research reports about the company. Stephens restated an “overweight” rating and issued a $240.00 price target on shares of STERIS in a report on Thursday. Piper Sandler upped their target price on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Price Performance

STERIS stock opened at $225.44 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $22.25 billion, a P/E ratio of 51.47 and a beta of 0.84. The firm has a fifty day moving average of $212.33 and a 200-day moving average of $224.59. STERIS has a 52-week low of $197.82 and a 52-week high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (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%. As a group, analysts predict that STERIS will post 9.11 EPS for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.01%. STERIS’s dividend payout ratio is presently 52.05%.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the company’s 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 sale, the senior vice president now owns 11,372 shares in the company, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STERIS

A number of hedge funds have recently bought and sold shares of the company. Bleakley Financial Group LLC lifted its holdings in STERIS by 8.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 134 shares during the last quarter. Franklin Resources Inc. raised its position in shares of STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after acquiring an additional 529,308 shares in the last quarter. Assetmark Inc. lifted its stake in STERIS by 24.6% during the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock worth $3,252,000 after purchasing an additional 2,647 shares during the last quarter. KBC Group NV lifted its stake in STERIS by 52.0% during the third quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock worth $2,928,000 after purchasing an additional 4,132 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in STERIS in the third quarter worth $9,949,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

About STERIS

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.