STERIS (NYSE:STE) Updates FY 2023 Earnings Guidance

STERIS (NYSE:STEGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided EPS guidance of $8.55-$8.75 for the period, compared to the consensus EPS estimate of $8.19. The company issued revenue guidance of -.

STE has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on STERIS from $254.00 to $263.00 and gave the stock a buy rating in a research note on Thursday, February 10th. StockNews.com downgraded shares of STERIS from a buy rating to a hold rating in a report on Friday, May 20th. JMP Securities lifted their price objective on shares of STERIS from $250.00 to $270.00 and gave the stock a market outperform rating in a research note on Monday, February 14th. Finally, Wolfe Research assumed coverage on shares of STERIS in a research note on Tuesday, April 5th. They set an outperform rating and a $275.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $261.14.

STERIS stock opened at $228.20 on Wednesday. STERIS has a twelve month low of $188.10 and a twelve month high of $255.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.41 and a current ratio of 2.04. The firm has a market cap of $22.85 billion, a PE ratio of 95.48 and a beta of 0.67. The firm’s 50 day moving average price is $234.22 and its two-hundred day moving average price is $232.18.

STERIS (NYSE:STEGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The medical equipment provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. STERIS had a return on equity of 11.85% and a net margin of 5.32%. Equities analysts anticipate that STERIS will post 8.71 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 28th. Shareholders of record on Tuesday, June 14th will be given a $0.43 dividend. The ex-dividend date is Monday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.75%. STERIS’s dividend payout ratio is currently 71.97%.

In other news, VP John Adam Zangerle sold 8,000 shares of the firm’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $255.48, for a total value of $2,043,840.00. Following the sale, the vice president now owns 31,023 shares in the company, valued at $7,925,756.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Karen L. Burton sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $246.00, for a total transaction of $984,000.00. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $5,027,840 over the last three months. 1.14% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. acquired a new stake in shares of STERIS during the 1st quarter valued at about $25,000. Belpointe Asset Management LLC acquired a new stake in STERIS during the fourth quarter valued at approximately $119,000. Lumature Wealth Partners LLC grew its stake in shares of STERIS by 44.8% in the 1st quarter. Lumature Wealth Partners LLC now owns 675 shares of the medical equipment provider’s stock valued at $163,000 after purchasing an additional 209 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of STERIS in the 1st quarter worth approximately $201,000. Finally, Fund Management at Engine No. 1 LLC bought a new position in shares of STERIS during the 1st quarter worth approximately $205,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

STERIS Company Profile (Get Rating)

STERIS plc provides infection prevention and other procedural products and services worldwide. It operates in three segments: Healthcare, Applied Sterilization Technologies, and Life Sciences. The Healthcare segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, 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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