STERIS plc (NYSE:STE) Given Average Recommendation of “Moderate Buy” by Brokerages

STERIS plc (NYSE:STE) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $273.50.

A number of research analysts have weighed in on the company. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Weiss Ratings restated a “buy (b)” rating on shares of STERIS in a report on Tuesday, October 14th. KeyCorp raised their price objective on STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley raised their price objective on STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, August 8th.

Insider Buying and Selling

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the transaction, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Daniel A. Carestio sold 159 shares of STERIS stock in a transaction on Monday, October 6th. The stock was sold at an average price of $241.82, for a total value of $38,449.38. Following the transaction, the chief executive officer owned 51,096 shares in the company, valued at approximately $12,356,034.72. This represents a 0.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,868 shares of company stock worth $4,585,389 in the last ninety days. Company insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in shares of STERIS by 7.3% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the medical equipment provider’s stock worth $159,000 after acquiring an additional 45 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of STERIS by 34.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 45 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of STERIS by 3.5% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider’s stock worth $365,000 after acquiring an additional 54 shares during the period. Balefire LLC raised its holdings in shares of STERIS by 5.0% during the 3rd quarter. Balefire LLC now owns 1,128 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 54 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of STERIS by 16.5% during the 1st quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE STE opened at $240.99 on Monday. The firm has a market cap of $23.74 billion, a PE ratio of 36.90 and a beta of 1.01. The firm has a fifty day moving average of $244.78 and a 200 day moving average of $237.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. STERIS has a one year low of $200.98 and a one year high of $253.00.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping the consensus estimate of $2.32 by $0.02. The company 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 firm’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 EPS. As a group, research analysts predict that STERIS will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, September 4th. This is an increase from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is 38.59%.

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.