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

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

STE has been the topic of a number of other reports. Piper Sandler upped their target price on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Monday. Finally, Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $258.75.

STERIS Stock Performance

Shares of STE stock opened at $217.01 on Thursday. The firm has a 50 day moving average of $222.58 and a two-hundred day moving average of $219.73. The stock has a market capitalization of $21.32 billion, a PE ratio of 46.07 and a beta of 0.87. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. 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 data 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 8.66% and a return on equity of 13.91%. On average, research analysts predict that STERIS will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. STERIS’s payout ratio is currently 48.41%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in STERIS by 9.5% in the third quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock valued at $270,230,000 after acquiring an additional 96,336 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in STERIS during the 3rd quarter worth approximately $204,000. Nomura Asset Management Co. Ltd. increased its position in STERIS by 7.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 28,867 shares of the medical equipment provider’s stock worth $7,001,000 after buying an additional 1,948 shares during the period. Public Employees Retirement System of Ohio lifted its stake in STERIS by 16.9% in the third quarter. Public Employees Retirement System of Ohio now owns 43,928 shares of the medical equipment provider’s stock valued at $10,654,000 after buying an additional 6,345 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of STERIS by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock valued at $556,786,000 after acquiring an additional 17,007 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

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.