STERIS (NYSE:STE) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of STERIS (NYSE:STE – Free Report) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

A number of other research analysts also recently issued reports on STE. Morgan Stanley raised their price target on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. KeyCorp lifted their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a “hold” rating and a $263.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

Check Out Our Latest Stock Analysis on STE

STERIS Stock Up 0.1%

Shares of NYSE STE opened at $247.95 on Friday. STERIS has a 1 year low of $200.98 and a 1 year high of $253.00. The firm’s 50 day moving average price is $238.01 and its 200 day moving average price is $233.55. The firm has a market cap of $24.42 billion, a P/E ratio of 37.97 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22.

STERIS (NYSE:STE – Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. STERIS’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. As a group, sell-side analysts anticipate that STERIS will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is currently 38.59%.

Insider Activity

In other news, Director Cynthia L. Feldmann sold 3,495 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the sale, the director owned 705 shares of the company’s stock, valued at approximately $170,299.80. This represents a 83.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Karen L. Burton sold 7,900 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the sale, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $1,448,929.62. The trade was a 56.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,709 shares of company stock worth $4,546,940 in the last quarter. 1.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On STERIS

Hedge funds have recently added to or reduced their stakes in the stock. Spurstone Advisory Services LLC bought a new stake in STERIS during the 2nd quarter worth about $29,000. Geneos Wealth Management Inc. boosted its stake in shares of STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 142 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of STERIS in the 1st quarter valued at about $37,000. Finally, ORG Wealth Partners LLC bought a new position in shares of STERIS in the 1st quarter valued at about $43,000. Institutional investors own 94.69% of the company’s stock.

About STERIS

(Get Free Report)

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.

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