STERIS (NYSE:STE) Announces Quarterly Earnings Results

STERIS (NYSE:STE) released its earnings results on Wednesday. The medical equipment provider reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.27, FiscalAI reports. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS.

STERIS Price Performance

Shares of STE stock traded up $17.34 on Wednesday, reaching $248.69. The company’s stock had a trading volume of 1,379,917 shares, compared to its average volume of 696,120. The stock’s fifty day simple moving average is $219.84 and its 200-day simple moving average is $224.81. STERIS has a 1 year low of $195.14 and a 1 year high of $269.44. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 22.20 and a beta of 0.86. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Tuesday, November 17th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.1%. STERIS’s dividend payout ratio (DPR) is 33.74%.

Analysts Set New Price Targets

Several research firms have recently issued reports on STE. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. UBS Group lowered their target price on STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a research note on Monday, August 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $275.00 price objective (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and a consensus target price of $271.33.

Insider Transactions at STERIS

In other STERIS news, Director Mohsen Sohi sold 4,058 shares of STERIS stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the transaction, the director directly owned 24,305 shares of the company’s stock, valued at $5,730,632.90. This trade represents a 14.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.12% of the stock is currently owned by insiders.

STERIS Company Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.