STERIS (NYSE:STE) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of STERIS (NYSE:STE) in a research note issued to investors on Monday,Benzinga reports. JMP Securities currently has a $265.00 target price on the medical equipment provider’s stock.

A number of other research firms have also recently weighed in on STE. KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Stephens reiterated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Trading Up 0.1 %

STERIS stock opened at $212.25 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The firm has a market cap of $20.95 billion, a PE ratio of 48.40 and a beta of 0.85. The stock’s 50 day simple moving average is $229.10 and its two-hundred day simple moving average is $228.69. STERIS has a 12 month low of $195.47 and a 12 month high of $248.24.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $2.03 earnings per share. Analysts anticipate that STERIS will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Tuesday, November 19th. STERIS’s payout ratio is 52.05%.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several large investors have recently added to or reduced their stakes in STE. Massachusetts Financial Services Co. MA boosted its position in shares of STERIS by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after acquiring an additional 778,613 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock valued at $75,132,000 after buying an additional 305,651 shares during the period. Impax Asset Management Group plc increased its holdings in shares of STERIS by 29.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after buying an additional 263,383 shares during the last quarter. American Century Companies Inc. raised its position in shares of STERIS by 1,946.3% during the 2nd quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock valued at $59,344,000 after buying an additional 257,101 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in STERIS by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after acquiring an additional 120,616 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Company Profile

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.