STERIS plc (NYSE:STE) Receives Average Rating of “Buy” from Analysts

Posted by MarketBeat News on Aug 2nd, 2022

Shares of STERIS plc (NYSE:STE – Get Rating) have been given an average recommendation of “Buy” by the nine research firms that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $260.57.

Several equities research analysts have commented on STE shares. Piper Sandler started coverage on shares of STERIS in a research note on Thursday, July 14th. They issued an “overweight” rating and a $240.00 price target on the stock. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a report on Wednesday, June 15th. 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 objective for the company. Finally, TheStreet cut shares of STERIS from a “b-” rating to a “c” rating in a report on Thursday, June 16th.

Insiders Place Their Bets

In other STERIS news, VP John Adam Zangerle sold 2,659 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $205.31, for a total value of $545,919.29. Following the completion of the sale, the vice president now owns 27,936 shares in the company, valued at approximately $5,735,540.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP grew its stake in STERIS by 6,323.8% in the 4th quarter. Marshall Wace LLP now owns 1,139,449 shares of the medical equipment provider’s stock valued at $277,353,000 after buying an additional 1,121,711 shares during the last quarter. Norges Bank acquired a new position in STERIS in the 4th quarter valued at $198,152,000. Pictet Asset Management SA grew its stake in STERIS by 46.1% in the 4th quarter. Pictet Asset Management SA now owns 1,520,350 shares of the medical equipment provider’s stock valued at $370,068,000 after buying an additional 480,025 shares during the last quarter. BlackRock Inc. grew its stake in STERIS by 5.9% in the 4th quarter. BlackRock Inc. now owns 8,128,575 shares of the medical equipment provider’s stock valued at $1,978,576,000 after buying an additional 452,768 shares during the last quarter. Finally, Invesco Ltd. grew its stake in STERIS by 89.8% in the 1st quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock valued at $230,645,000 after buying an additional 451,235 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

STERIS Price Performance

STE opened at $222.51 on Tuesday. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of 93.10 and a beta of 0.71. STERIS has a fifty-two week low of $192.40 and a fifty-two week high of $255.93. The company’s 50-day moving average price is $214.11 and its 200 day moving average price is $225.65. The company has a quick ratio of 1.41, a current ratio of 2.04 and a debt-to-equity ratio of 0.45.

STERIS (NYSE:STE – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The medical equipment provider reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. STERIS had a net margin of 5.32% and a return on equity of 11.85%. As a group, sell-side analysts expect that STERIS will post 8.71 earnings per share for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th will be given a $0.47 dividend. This is an increase from STERIS’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, September 6th. This represents a $1.88 dividend on an annualized basis and a yield of 0.84%. STERIS’s dividend payout ratio is presently 71.97%.

About STERIS

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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.