STERIS (NYSE:STE) Issues FY 2023 Earnings Guidance

STERIS (NYSE:STEGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. 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 -.

Shares of NYSE:STE opened at $227.16 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.04 and a quick ratio of 1.41. The firm has a market capitalization of $22.73 billion, a P/E ratio of 95.05 and a beta of 0.67. The business’s 50-day moving average is $232.76 and its 200 day moving average is $231.84. STERIS has a 1 year low of $190.86 and a 1 year high of $255.93.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 28th. Stockholders of record on Tuesday, June 14th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.76%. STERIS’s payout ratio is currently 71.97%.

STE has been the topic of a number of research reports. StockNews.com raised STERIS from a hold rating to a buy rating in a report on Friday, June 3rd. JMP Securities raised their target price on shares of STERIS from $250.00 to $270.00 and gave the stock a market outperform rating in a report on Monday, February 14th. Wolfe Research initiated coverage on shares of STERIS in a report on Tuesday, April 5th. They issued an outperform rating and a $275.00 price target on the stock. Finally, Needham & Company LLC lifted their price objective on STERIS from $254.00 to $263.00 and gave the company a buy rating in a research note on Thursday, February 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $261.14.

In related news, VP John Adam Zangerle sold 8,000 shares of STERIS stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $255.48, for a total transaction of $2,043,840.00. Following the transaction, the vice president now owns 31,023 shares in the company, valued at $7,925,756.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Karen L. Burton sold 4,000 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $246.00, for a total value of $984,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,000 shares of company stock valued at $5,027,840. Insiders own 1.14% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its holdings in STERIS by 89.8% during the 1st quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock worth $230,645,000 after buying an additional 451,235 shares in the last quarter. Morgan Stanley grew its position in shares of STERIS by 222.2% during the second quarter. Morgan Stanley now owns 414,842 shares of the medical equipment provider’s stock worth $85,581,000 after buying an additional 286,093 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of STERIS by 1.3% during the first quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock worth $2,786,586,000 after buying an additional 143,253 shares during the period. First Trust Advisors LP raised its holdings in STERIS by 207.0% in the first quarter. First Trust Advisors LP now owns 103,106 shares of the medical equipment provider’s stock valued at $24,928,000 after acquiring an additional 69,518 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in STERIS by 42.3% in the first quarter. Goldman Sachs Group Inc. now owns 218,395 shares of the medical equipment provider’s stock worth $52,802,000 after acquiring an additional 64,877 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

About STERIS (Get Rating)

STERIS plc provides infection prevention and other procedural 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; 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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