STERIS (NYSE:STE) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of STERIS (NYSE:STE) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Other research analysts have also issued reports about the company. Stephens reiterated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. KeyCorp boosted their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Trading Up 1.5 %

Shares of STE stock opened at $225.18 on Tuesday. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. STERIS has a twelve month low of $195.47 and a twelve month high of $248.24. The company’s 50-day moving average price is $233.72 and its 200-day moving average price is $226.84. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of 55.88 and a beta of 0.84.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 EPS. As a group, equities analysts predict that STERIS will post 9.02 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.01%. The ex-dividend date is Tuesday, November 19th. STERIS’s dividend payout ratio is currently 56.58%.

Insiders Place Their Bets

In other news, Director Christopher S. Holland sold 473 shares of the firm’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 transaction, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several hedge funds have recently added to or reduced their stakes in STE. Bleakley Financial Group LLC lifted its holdings in STERIS by 8.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 134 shares during the last quarter. Russell Investments Group Ltd. increased its stake in STERIS by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after purchasing an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in STERIS by 3.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after purchasing an additional 3,342 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of STERIS during the 1st quarter worth approximately $903,000. Finally, BDF Gestion purchased a new stake in shares of STERIS during the 2nd quarter worth approximately $2,644,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

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.