STERIS (NYSE:STE) Lifted to Overweight at Piper Sandler

Piper Sandler upgraded shares of STERIS (NYSE:STE) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, Marketbeat reports. They currently have $260.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $230.00.

STE has been the subject of several other research reports. StockNews.com raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 21st. KeyCorp raised their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Stephens reaffirmed an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Stock Performance

Shares of NYSE STE opened at $224.12 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 58.67 and a beta of 0.84. The stock’s fifty day simple moving average is $234.76 and its 200 day simple moving average is $226.34. STERIS has a 52-week low of $195.47 and a 52-week high of $248.24.

STERIS (NYSE:STE) last issued its 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 business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 EPS. As a group, sell-side analysts forecast 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 is a boost from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. STERIS’s dividend payout ratio (DPR) is presently 59.69%.

Insider Activity at STERIS

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

Hedge Funds Weigh In On STERIS

Several institutional investors have recently bought and sold shares of the stock. Diversify Wealth Management LLC raised its holdings in STERIS by 7.8% during the third quarter. Diversify Wealth Management LLC now owns 4,222 shares of the medical equipment provider’s stock valued at $934,000 after buying an additional 304 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of STERIS by 46.3% in the third quarter. First Trust Direct Indexing L.P. now owns 4,603 shares of the medical equipment provider’s stock worth $1,116,000 after purchasing an additional 1,456 shares during the period. Strategic Wealth Investment Group LLC increased its stake in shares of STERIS by 6.3% in the third quarter. Strategic Wealth Investment Group LLC now owns 4,667 shares of the medical equipment provider’s stock worth $1,100,000 after purchasing an additional 275 shares during the period. Autumn Glory Partners LLC bought a new position in shares of STERIS in the third quarter worth about $337,000. Finally, State of Alaska Department of Revenue increased its stake in shares of STERIS by 6.9% in the third quarter. State of Alaska Department of Revenue now owns 11,455 shares of the medical equipment provider’s stock worth $2,778,000 after purchasing an additional 735 shares during the period. 94.69% of the stock is currently 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.