Morgan Stanley Raises STERIS (NYSE:STE) Price Target to $260.00

STERIS (NYSE:STE) had its target price hoisted by Morgan Stanley from $240.00 to $260.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the medical equipment provider’s stock.

Several other research analysts also recently weighed in on STE. JMP Securities upped their target price on shares of STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research note on Friday. Piper Sandler upped their price objective on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Finally, Citigroup reissued an “outperform” rating on shares of STERIS in a research report on Friday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $264.00.

STERIS Stock Up 0.3%

Shares of STE opened at $252.31 on Monday. The firm has a market cap of $24.79 billion, a PE ratio of 53.57 and a beta of 0.96. The company’s fifty day moving average is $224.69 and its two-hundred day moving average is $219.48. STERIS has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, beating the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm posted $2.58 earnings per share. STERIS’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts forecast that STERIS will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, June 10th. STERIS’s payout ratio is currently 36.77%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in STE. Avalon Trust Co bought a new stake in STERIS during the fourth quarter valued at $30,000. Grove Bank & Trust grew its position in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 142 shares during the last quarter. Human Investing LLC acquired a new stake in STERIS during the fourth quarter worth about $31,000. Zions Bancorporation National Association UT bought a new position in STERIS in the first quarter worth about $37,000. Finally, Anfield Capital Management LLC lifted its holdings in STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds 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.