STERIS (NYSE:STE) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of STERIS (NYSE:STE) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

STE has been the topic of a number of other reports. KeyCorp increased their target price on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Jefferies Financial Group started coverage on shares of STERIS in a report on Thursday, May 29th. They set a “hold” rating and a $263.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and an average price target of $273.50.

STERIS Stock Down 0.9%

Shares of NYSE:STE opened at $250.08 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $237.41 and a 200 day simple moving average of $233.25. The firm has a market cap of $24.63 billion, a PE ratio of 38.30 and a beta of 0.95. STERIS has a 12-month low of $200.98 and a 12-month high of $253.00.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.02. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 earnings per share. On average, equities research analysts anticipate that STERIS will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be given a $0.63 dividend. The ex-dividend date is Thursday, September 4th. This represents a $2.52 annualized dividend and a yield of 1.0%. This is a boost from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is 38.59%.

Insider Activity

In related news, Director Cynthia L. Feldmann sold 3,495 shares of STERIS stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the sale, the director directly owned 705 shares in the company, valued at $170,299.80. This trade represents a 83.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Renato Tamaro sold 3,204 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of the transaction, the vice president owned 7,221 shares of the company’s stock, valued at $1,799,762.04. This represents a 30.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,709 shares of company stock valued at $4,546,940. 1.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On STERIS

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spurstone Advisory Services LLC bought a new position in STERIS in the 2nd quarter valued at about $29,000. Geneos Wealth Management Inc. grew its position in STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Grove Bank & Trust grew its position in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 142 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in STERIS in the 1st quarter valued at about $37,000. Finally, ORG Wealth Partners LLC bought a new position in STERIS in the 1st quarter valued at about $43,000. 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.