Investment analysts at KeyCorp began coverage on shares of STERIS (NYSE:STE – Get Free Report) in a report released on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $253.00 price target on the medical equipment provider’s stock. KeyCorp’s price target points to a potential upside of 12.01% from the company’s current price.
A number of other analysts have also commented on the stock. Morgan Stanley cut their price objective on shares of STERIS from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday, December 4th. JMP Securities restated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday, November 9th. Finally, Piper Sandler decreased their price objective on shares of STERIS from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.60.
STERIS Stock Performance
STERIS (NYSE:STE – Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.05. STERIS had a net margin of 10.52% and a return on equity of 13.58%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that STERIS will post 8.66 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. bought a new stake in shares of STERIS during the 1st quarter valued at about $25,000. Millburn Ridgefield Corp bought a new stake in shares of STERIS during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of STERIS during the 3rd quarter valued at about $25,000. West Tower Group LLC bought a new stake in shares of STERIS during the 2nd quarter valued at about $32,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of STERIS during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 92.91% of the company’s stock.
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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