STERIS’s (STE) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of STERIS (NYSE:STE) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $265.00 price objective on the medical equipment provider’s stock.

A number of other equities research analysts have also weighed in on STE. Piper Sandler reissued a neutral rating and issued a $225.00 target price (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. Stephens reissued an overweight rating and set a $260.00 price target on shares of STERIS in a research report on Wednesday. Needham & Company LLC reaffirmed a hold rating on shares of STERIS in a research note on Friday, May 10th. Finally, StockNews.com lowered STERIS from a buy rating to a hold rating in a research note on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, STERIS has an average rating of Hold and an average target price of $243.60.

STERIS Price Performance

NYSE STE traded up $6.91 during trading hours on Wednesday, reaching $240.44. 230,945 shares of the stock traded hands, compared to its average volume of 487,934. The company has a market cap of $23.77 billion, a price-to-earnings ratio of 61.13 and a beta of 0.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.08 and a quick ratio of 2.36. STERIS has a 1 year low of $195.47 and a 1 year high of $243.37. The stock has a 50 day simple moving average of $224.84 and a two-hundred day simple moving average of $222.77.

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

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be issued a $0.57 dividend. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. STERIS’s dividend payout ratio is 59.69%.

Insider Activity

In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of STERIS stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $267,312.56. Following the sale, the vice president now directly 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. In the last 90 days, insiders have sold 7,762 shares of company stock worth $1,798,477. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in STERIS by 8.3% during the 1st 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 period. State Board of Administration of Florida Retirement System grew its stake 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 valued at $23,909,000 after acquiring an additional 3,342 shares in the last quarter. Caden Capital Partners LP grew its stake in STERIS by 80.0% during the fourth quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock valued at $18,096,000 after acquiring an additional 36,576 shares in the last quarter. Cullen Investment Group LTD. purchased a new stake in STERIS in the 4th quarter worth $1,351,000. Finally, Diversify Advisory Services LLC purchased a new stake in STERIS in the 1st quarter worth $903,000. Institutional investors own 94.69% of the company’s stock.

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.