STERIS (NYSE:STE) Price Target Cut to $210.00 by Analysts at KeyCorp

STERIS (NYSE:STEGet Rating) had its target price decreased by KeyCorp from $240.00 to $210.00 in a research note published on Friday morning, The Fly reports. KeyCorp currently has an overweight rating on the medical equipment provider’s stock. KeyCorp also issued estimates for STERIS’s FY2023 earnings at $8.43 EPS, FY2024 earnings at $9.40 EPS and FY2025 earnings at $10.49 EPS.

Several other equities analysts also recently commented on the stock. TheStreet upgraded shares of STERIS from a c+ rating to a b rating in a report on Tuesday, August 2nd. JMP Securities decreased their price target on STERIS from $270.00 to $250.00 in a research note on Thursday, August 4th. Piper Sandler started coverage on STERIS in a research report on Thursday, July 14th. They issued an overweight rating and a $240.00 price objective on the stock. StockNews.com initiated coverage on STERIS in a research note on Wednesday, October 12th. They issued a buy rating on the stock. Finally, Needham & Company LLC lowered shares of STERIS from a buy rating to a hold rating in a research note on Friday, September 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $242.40.

STERIS Stock Performance

NYSE:STE opened at $167.78 on Friday. The company has a market cap of $16.75 billion, a price-to-earnings ratio of -1,525.13, a PEG ratio of 1.84 and a beta of 0.80. STERIS has a 1 year low of $159.21 and a 1 year high of $255.93. The stock’s 50 day simple moving average is $175.54 and its two-hundred day simple moving average is $200.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.03 and a quick ratio of 1.35.

STERIS (NYSE:STEGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The medical equipment provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.01. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. STERIS had a negative net margin of 0.17% and a positive return on equity of 12.40%. The business’s revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $1.99 EPS. As a group, equities analysts anticipate that STERIS will post 8.45 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Tuesday, November 22nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Monday, November 21st. STERIS’s dividend payout ratio is currently -1,708.94%.

Hedge Funds Weigh In On STERIS

Large investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in shares of STERIS by 14.1% during the second quarter. Treasurer of the State of North Carolina now owns 37,434 shares of the medical equipment provider’s stock valued at $7,717,000 after acquiring an additional 4,622 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of STERIS by 1.8% in the first quarter. CIBC Asset Management Inc now owns 5,227 shares of the medical equipment provider’s stock worth $1,264,000 after buying an additional 90 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of STERIS by 7.2% during the first quarter. Van ECK Associates Corp now owns 10,787 shares of the medical equipment provider’s stock worth $2,608,000 after buying an additional 724 shares during the period. Kentucky Retirement Systems grew its holdings in shares of STERIS by 16.4% during the second quarter. Kentucky Retirement Systems now owns 7,431 shares of the medical equipment provider’s stock valued at $1,532,000 after buying an additional 1,049 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of STERIS by 5.6% in the 1st quarter. Signaturefd LLC now owns 3,852 shares of the medical equipment provider’s stock valued at $931,000 after acquiring an additional 205 shares during the period. 92.04% of the stock is owned by institutional investors and hedge funds.

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.

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