According to Zacks, “Currently customer consolidation scenario is raising concern, which is likely to adversely impact STERIS. The competitive landscape and weak cost reduction initiatives of STERIS continue to be causes of concern for the company. However, the company’s favorable underlying market trends along with new product and service offerings buoy optimism. Growth in free cash flow reserve is indicative of the company’s strong cash balance. The company raising its constant currency organic revenue growth expectations for fiscal 2019 is indicative of brighter prospects. Last December, STERIS announced a restructuring plan that involved shutting down of two manufacturing units along with product rationalization. The company has also made certain divestments and organizational changes, which are expected to better align with its operations. Over the past year, STERIS has been outperforming its industry.”
A number of other research analysts have also commented on the company. JMP Securities reissued a “buy” rating and set a $135.00 price target on shares of Steris in a report on Thursday, February 14th. Stephens reaffirmed a “buy” rating and set a $135.00 target price on shares of Steris in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Steris presently has a consensus rating of “Buy” and a consensus price target of $138.20.
Shares of STE traded down $4.51 during trading hours on Wednesday, reaching $120.69. 7,142 shares of the company’s stock traded hands, compared to its average volume of 363,454. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 29.08 and a beta of 1.08. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.99 and a current ratio of 2.56. Steris has a twelve month low of $93.50 and a twelve month high of $129.87.
Steris (NYSE:STE) last issued its quarterly earnings results on Monday, February 11th. The medical equipment provider reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. The company had revenue of $696.24 million for the quarter, compared to analyst estimates of $687.90 million. Steris had a return on equity of 12.50% and a net margin of 9.85%. Analysts forecast that Steris will post 4.79 EPS for the current fiscal year.
In other Steris news, Director Michael B. Wood sold 3,609 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $121.79, for a total transaction of $439,540.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $125.00, for a total value of $6,250,000.00. Following the sale, the chief executive officer now owns 98,895 shares of the company’s stock, valued at $12,361,875. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,646 shares of company stock worth $7,284,093. 2.38% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Steris by 10.3% during the 4th quarter. BlackRock Inc. now owns 8,549,361 shares of the medical equipment provider’s stock worth $913,498,000 after acquiring an additional 800,900 shares during the period. Vanguard Group Inc boosted its position in Steris by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 7,516,051 shares of the medical equipment provider’s stock worth $859,837,000 after acquiring an additional 133,510 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Steris by 10,585.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,572,743 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 3,539,306 shares during the period. WCM Investment Management LLC boosted its position in Steris by 3.8% during the 4th quarter. WCM Investment Management LLC now owns 2,364,222 shares of the medical equipment provider’s stock worth $252,617,000 after acquiring an additional 85,819 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in Steris by 7.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,158,334 shares of the medical equipment provider’s stock worth $123,768,000 after acquiring an additional 84,228 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Steris Company Profile
STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
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