StockNews.com Lowers STERIS (NYSE:STE) to Hold

StockNews.com lowered shares of STERIS (NYSE:STE) from a buy rating to a hold rating in a research note released on Friday morning.

STE has been the subject of several other research reports. Stephens reissued an overweight rating and set a $250.00 price target on shares of STERIS in a report on Friday, February 9th. TheStreet upgraded shares of STERIS from a c+ rating to a b rating in a research report on Wednesday, February 7th. Needham & Company LLC restated a hold rating on shares of STERIS in a research note on Friday, April 12th. KeyCorp began coverage on STERIS in a report on Tuesday, February 6th. They set an overweight rating and a $253.00 price target on the stock. Finally, JMP Securities reaffirmed a market outperform rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, STERIS has a consensus rating of Hold and a consensus target price of $239.60.

STERIS Price Performance

STE opened at $209.52 on Friday. STERIS has a 1 year low of $185.22 and a 1 year high of $254.00. The stock has a 50-day moving average price of $217.97 and a 200-day moving average price of $216.04. The firm has a market cap of $20.70 billion, a PE ratio of 36.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 EPS for the quarter, topping the consensus estimate of $2.17 by $0.05. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. STERIS had a return on equity of 13.67% and a net margin of 10.48%. STERIS’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $2.02 EPS. Sell-side analysts predict that STERIS will post 8.67 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, June 12th. STERIS’s dividend payout ratio is presently 36.43%.

Institutional Investors Weigh In On STERIS

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of STERIS by 66.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,085 shares of the medical equipment provider’s stock worth $896,000 after buying an additional 1,632 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in STERIS during the third quarter worth approximately $54,000. Cambridge Investment Research Advisors Inc. increased its stake in STERIS by 3.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,537 shares of the medical equipment provider’s stock worth $1,654,000 after acquiring an additional 220 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of STERIS by 286.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 761 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 564 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of STERIS by 0.7% in the 3rd quarter. Xponance Inc. now owns 12,764 shares of the medical equipment provider’s stock valued at $2,801,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

About STERIS

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.