Northcoast Research Comments on Steris PLC’s Q3 2019 Earnings (STE)

Steris PLC (NYSE:STE) – Stock analysts at Northcoast Research lifted their Q3 2019 earnings per share (EPS) estimates for shares of Steris in a report issued on Thursday. Northcoast Research analyst D. Keiser now forecasts that the medical equipment provider will earn $1.28 per share for the quarter, up from their prior forecast of $1.21. Northcoast Research has a “Buy” rating and a $102.00 price objective on the stock.

Steris (NYSE:STE) last posted its earnings results on Wednesday, February 7th. The medical equipment provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. The company had revenue of $661.90 million during the quarter, compared to the consensus estimate of $663.17 million. Steris had a net margin of 9.42% and a return on equity of 11.57%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share.

A number of other research analysts also recently issued reports on STE. Raymond James Financial boosted their target price on shares of Steris from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. KeyCorp restated a “buy” rating and set a $91.00 target price on shares of Steris in a research report on Tuesday, October 17th. Zacks Investment Research downgraded shares of Steris from a “buy” rating to a “sell” rating in a research report on Monday, November 6th. Finally, TD Securities upped their price objective on shares of Steris from C$14.00 to C$16.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $84.80.

Steris (NYSE:STE) opened at $85.57 on Monday. The stock has a market cap of $7,260.45, a price-to-earnings ratio of 21.29 and a beta of 1.22. Steris has a 1 year low of $66.84 and a 1 year high of $93.71. The company has a current ratio of 2.82, a quick ratio of 2.22 and a debt-to-equity ratio of 0.46.

In other Steris news, VP John Adam Zangerle sold 3,650 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $88.00, for a total value of $321,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sudhir K. Pahwa sold 2,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.09, for a total transaction of $184,180.00. The disclosure for this sale can be found here. Corporate insiders own 2.55% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in shares of Steris by 53.2% during the second quarter. State Street Corp now owns 2,336,074 shares of the medical equipment provider’s stock worth $190,392,000 after purchasing an additional 811,622 shares in the last quarter. BlackRock Inc. increased its stake in shares of Steris by 3.4% during the fourth quarter. BlackRock Inc. now owns 7,184,409 shares of the medical equipment provider’s stock worth $628,419,000 after purchasing an additional 239,200 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Steris by 36.6% during the 4th quarter. Congress Asset Management Co. MA now owns 822,391 shares of the medical equipment provider’s stock valued at $71,935,000 after acquiring an additional 220,268 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Steris during the 2nd quarter valued at about $12,573,000. Finally, American Century Companies Inc. grew its stake in Steris by 14.6% during the 4th quarter. American Century Companies Inc. now owns 1,194,167 shares of the medical equipment provider’s stock valued at $104,454,000 after acquiring an additional 152,346 shares in the last quarter. Institutional investors and hedge funds own 89.47% of the company’s stock.

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Steris Company Profile

STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.

Earnings History and Estimates for Steris (NYSE:STE)

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