STERIS (NYSE:STE) Posts Earnings Results, Beats Expectations By $0.05 EPS

STERIS (NYSE:STEGet Free Report) issued its quarterly earnings data on Wednesday. The medical equipment provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.05, Briefing.com reports. STERIS had a net margin of 10.52% and a return on equity of 13.58%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business earned $2.02 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. STERIS updated its FY24 guidance to $8.60-$8.70 EPS and its FY 2024 guidance to 8.600-8.700 EPS.

STERIS Trading Down 0.0 %

NYSE:STE opened at $225.87 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.49 and a quick ratio of 1.55. STERIS has a fifty-two week low of $173.21 and a fifty-two week high of $254.00. The stock’s 50-day moving average is $215.19 and its two-hundred day moving average is $218.37. The stock has a market cap of $22.32 billion, a PE ratio of 40.84 and a beta of 0.80.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.08 annualized dividend and a yield of 0.92%. STERIS’s dividend payout ratio (DPR) is presently 37.61%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of STERIS from $220.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research report on Thursday, November 9th. Morgan Stanley dropped their price target on shares of STERIS from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday, December 4th. Finally, KeyCorp began coverage on STERIS in a research note on Tuesday. They issued an “overweight” rating and a $253.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and an average target price of $239.60.

Check Out Our Latest Report on STERIS

Hedge Funds Weigh In On STERIS

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its stake in shares of STERIS by 7.5% in the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the medical equipment provider’s stock valued at $161,000 after buying an additional 59 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of STERIS by 8.0% in the 1st quarter. Ancora Advisors LLC now owns 873 shares of the medical equipment provider’s stock valued at $167,000 after buying an additional 65 shares in the last quarter. KB Financial Partners LLC grew its stake in shares of STERIS by 3.7% in the 2nd quarter. KB Financial Partners LLC now owns 2,401 shares of the medical equipment provider’s stock valued at $540,000 after buying an additional 85 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of STERIS by 3.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,529 shares of the medical equipment provider’s stock valued at $521,000 after buying an additional 96 shares in the last quarter. Finally, Colony Group LLC grew its stake in shares of STERIS by 1.8% in the 2nd quarter. Colony Group LLC now owns 5,631 shares of the medical equipment provider’s stock valued at $1,267,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.

STERIS Company Profile

(Get Free Report)

STERIS plc provides infection prevention 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; endoscopy accessories, 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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Earnings History for STERIS (NYSE:STE)

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