STERIS (NYSE:STE) Rating Reiterated by JMP Securities

STERIS (NYSE:STE)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $265.00 target price on the medical equipment provider’s stock. JMP Securities’ price target points to a potential upside of 13.48% from the company’s previous close.

A number of other brokerages also recently commented on STE. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target (up from $220.00) on shares of STERIS in a report on Friday, May 10th. StockNews.com cut STERIS from a “buy” rating to a “hold” rating in a report on Monday. Stephens restated an “overweight” rating and set a $260.00 price objective on shares of STERIS in a report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, May 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $243.60.

STERIS Stock Down 2.4 %

STE stock traded down $5.65 during midday trading on Wednesday, reaching $233.53. 804,462 shares of the company were exchanged, compared to its average volume of 489,775. The stock’s 50-day simple moving average is $224.64 and its 200 day simple moving average is $222.69. STERIS has a 1-year low of $195.47 and a 1-year high of $243.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. The company has a market cap of $23.09 billion, a price-to-earnings ratio of 61.13 and a beta of 0.83.

STERIS (NYSE:STE) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 earnings per share. On average, equities analysts forecast that STERIS will post 9.16 earnings per share for the current year.

Insider Activity

In other news, VP Renato Tamaro sold 1,154 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the sale, the vice president now directly owns 6,677 shares in the company, valued at approximately $1,546,660.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Renato Tamaro sold 1,154 shares of STERIS stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at approximately $1,546,660.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,762 shares of company stock worth $1,798,477. Corporate insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Personal Financial Services bought a new position in shares of STERIS during the 1st quarter worth approximately $25,000. J.Safra Asset Management Corp grew its stake in STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 53 shares during the period. Quent Capital LLC increased its position 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 valued at $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 purchased a new position in shares of STERIS in the 1st quarter worth about $36,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

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.