STERIS (NYSE:STE) Sets New 12-Month High on Analyst Upgrade

STERIS plc (NYSE:STE)’s stock price reached a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $255.00 to $265.00. KeyCorp currently has an overweight rating on the stock. STERIS traded as high as $244.30 and last traded at $244.03, with a volume of 65725 shares trading hands. The stock had previously closed at $241.10.

Several other brokerages also recently weighed in on STE. Stephens reiterated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target (up from $220.00) on shares of STERIS in a research report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.00.

Insider Transactions at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Personal Financial Services acquired a new stake in shares of STERIS during the first quarter valued at approximately $25,000. J.Safra Asset Management Corp increased its stake in shares of STERIS by 77.9% during the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 53 shares during the last quarter. Quent Capital LLC increased its stake in shares of STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 71 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of STERIS during the 4th quarter worth $34,000. Finally, Headlands Technologies LLC bought a new stake in shares of STERIS during the 1st quarter worth $36,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Trading Down 1.1 %

The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average is $229.98 and its 200-day moving average is $224.62. The firm has a market capitalization of $23.71 billion, a P/E ratio of 62.93 and a beta of 0.83.

STERIS (NYSE:STE) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $2.00 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts anticipate that STERIS plc will post 9.15 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. STERIS’s dividend payout ratio (DPR) is presently 54.45%.

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.