STERIS (NYSE:STE) Upgraded to “B” at TheStreet

TheStreet upgraded shares of STERIS (NYSE:STEGet Rating) from a c+ rating to a b rating in a report published on Tuesday morning, TheStreetRatingsTable reports.

Several other analysts also recently weighed in on the stock. Wolfe Research initiated coverage on shares of STERIS in a report on Tuesday, April 5th. They issued an outperform rating and a $275.00 target price for the company. Piper Sandler initiated coverage on shares of STERIS in a report on Thursday, July 14th. They issued an overweight rating and a $240.00 target price for the company. Needham & Company LLC dropped their target price on shares of STERIS from $248.00 to $237.00 and set a buy rating for the company in a report on Thursday. StockNews.com downgraded shares of STERIS from a buy rating to a hold rating in a report on Wednesday. Finally, KeyCorp dropped their target price on shares of STERIS from $256.00 to $240.00 and set an overweight rating for the company in a report on Thursday. 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 stock presently has a consensus rating of Moderate Buy and a consensus price target of $251.71.

STERIS Stock Up 1.9 %

Shares of NYSE STE opened at $211.98 on Tuesday. The company has a 50 day simple moving average of $212.61 and a 200-day simple moving average of $225.17. The company has a market capitalization of $21.21 billion, a P/E ratio of 56.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.03 and a quick ratio of 1.41. STERIS has a 1 year low of $192.40 and a 1 year high of $255.93.

STERIS (NYSE:STEGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The medical equipment provider reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. STERIS had a net margin of 7.90% and a return on equity of 12.40%. On average, equities research analysts predict that STERIS will post 8.5 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently declared 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 represents a $1.88 annualized dividend and a yield of 0.89%. The ex-dividend date is Tuesday, September 6th. This is a boost from STERIS’s previous quarterly dividend of $0.43. STERIS’s dividend payout ratio (DPR) is currently 46.11%.

Insider Buying and Selling at STERIS

In other STERIS news, VP John Adam Zangerle sold 2,659 shares of the firm’s 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 transaction, the vice president now owns 27,936 shares of the company’s stock, valued at approximately $5,735,540.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On STERIS

Several institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. lifted its position in shares of STERIS by 2.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,840 shares of the medical equipment provider’s stock worth $379,000 after purchasing an additional 45 shares during the last quarter. Trust Asset Management LLC lifted its position in shares of STERIS by 5.4% during the 1st quarter. Trust Asset Management LLC now owns 956 shares of the medical equipment provider’s stock worth $231,000 after purchasing an additional 49 shares during the last quarter. Private Harbour Investment Management & Counsel LLC lifted its position in shares of STERIS by 0.7% during the 4th quarter. Private Harbour Investment Management & Counsel LLC now owns 7,629 shares of the medical equipment provider’s stock worth $1,857,000 after purchasing an additional 50 shares during the last quarter. Allworth Financial LP raised its stake in STERIS by 11.8% during the 2nd quarter. Allworth Financial LP now owns 531 shares of the medical equipment provider’s stock worth $109,000 after acquiring an additional 56 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in STERIS by 0.8% during the 2nd quarter. Park Avenue Securities LLC now owns 6,972 shares of the medical equipment provider’s stock worth $1,437,000 after acquiring an additional 57 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

STERIS Company Profile

(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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Analyst Recommendations for STERIS (NYSE:STE)

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