STERIS plc (NYSE:STE) Given Average Rating of “Buy” by Analysts

STERIS plc (NYSE:STEGet Rating) has been given an average rating of “Buy” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $252.00.

A number of equities research analysts have commented on STE shares. JMP Securities decreased their price objective on STERIS from $270.00 to $250.00 in a research report on Thursday, August 4th. Piper Sandler began coverage on STERIS in a research note on Thursday, July 14th. They issued an “overweight” rating and a $240.00 price target on the stock. TheStreet upgraded STERIS from a “c+” rating to a “b” rating in a research report on Tuesday, August 2nd. KeyCorp cut their price objective on STERIS from $256.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 4th. Finally, StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th.

Institutional Investors Weigh In On STERIS

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its position in shares of 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 bought a new position in shares of STERIS in the fourth quarter valued at approximately $198,152,000. BlackRock Inc. grew its holdings in shares of STERIS by 5.9% in the fourth quarter. BlackRock Inc. now owns 8,128,575 shares of the medical equipment provider’s stock valued at $1,978,576,000 after acquiring an additional 452,768 shares in the last quarter. Invesco Ltd. grew its holdings in shares of STERIS by 89.8% in the first quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock valued at $230,645,000 after acquiring an additional 451,235 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in STERIS during the first quarter valued at $108,682,000. Institutional investors and hedge funds own 92.04% of the company’s stock.

STERIS Price Performance

Shares of STE opened at $183.11 on Wednesday. The firm has a market capitalization of $18.31 billion, a price-to-earnings ratio of 49.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.35 and a current ratio of 2.03. STERIS has a one year low of $181.32 and a one year high of $255.93. The stock’s fifty day moving average is $208.32 and its 200-day moving average is $219.52.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from STERIS’s previous quarterly dividend of $0.43. STERIS’s dividend payout ratio (DPR) is 50.40%.

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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