STERIS (NYSE:STE) Upgraded at StockNews.com

StockNews.com upgraded shares of STERIS (NYSE:STE) from a buy rating to a strong-buy rating in a report published on Monday.

Several other brokerages also recently weighed in on STE. KeyCorp raised their price target on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Finally, Stephens reiterated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.00.

STERIS Trading Down 0.2 %

STERIS stock opened at $221.15 on Monday. STERIS has a 12 month low of $195.47 and a 12 month high of $248.24. The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of 57.89 and a beta of 0.84. The business’s fifty day simple moving average is $234.99 and its two-hundred day simple moving average is $226.17. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. As a group, equities analysts predict that STERIS will post 9.06 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, September 5th. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio is 59.69%.

Insider Buying and Selling at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other STERIS news, Director Christopher S. Holland sold 473 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the transaction, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On STERIS

A number of institutional investors have recently bought and sold shares of the stock. West Coast Financial LLC grew its holdings in STERIS by 2.8% during the third quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after purchasing an additional 45 shares during the period. Taylor Frigon Capital Management LLC raised its stake in STERIS by 0.8% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after acquiring an additional 46 shares during the period. J.Safra Asset Management Corp raised its stake in STERIS by 77.9% during the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 53 shares during the period. Mather Group LLC. lifted its holdings in STERIS by 7.6% during the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock valued at $172,000 after purchasing an additional 54 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of STERIS by 16.5% in the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock worth $82,000 after purchasing an additional 57 shares during the period. 94.69% of the stock is owned by institutional investors.

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.