STERIS (NYSE:STE) Releases FY 2023 Earnings Guidance

STERIS (NYSE:STEGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.40-$8.60 for the period, compared to the consensus estimate of $8.70. The company issued revenue guidance of $5.00 billion-$5.00 billion, compared to the consensus revenue estimate of $5.12 billion. STERIS also updated its FY23 guidance to $8.40-8.60 EPS.

Analyst Ratings Changes

Several research analysts have commented on the stock. JMP Securities dropped their price objective on shares of STERIS from $270.00 to $250.00 in a report on Thursday. KeyCorp dropped their price objective on shares of STERIS from $256.00 to $240.00 and set an overweight rating for the company in a report on Thursday. Needham & Company LLC dropped their price objective on shares of STERIS from $248.00 to $237.00 and set a buy rating for the company in a report on Thursday. StockNews.com downgraded shares of STERIS from a buy rating to a hold rating in a report on Wednesday. Finally, TheStreet raised shares of STERIS from a c+ rating to a b rating in a report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $251.71.

STERIS Trading Up 1.9 %

Shares of NYSE:STE traded up $3.99 during trading on Friday, reaching $211.98. The company’s stock had a trading volume of 709,057 shares, compared to its average volume of 494,460. The company has a current ratio of 2.03, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. STERIS has a 12 month low of $192.40 and a 12 month high of $255.93. The stock has a market capitalization of $21.21 billion, a PE ratio of 56.83 and a beta of 0.71. The firm’s 50 day simple moving average is $212.61 and its two-hundred day simple moving average is $225.17.

STERIS (NYSE:STEGet Rating) last posted its quarterly earnings data on Wednesday, May 11th. The medical equipment provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. STERIS had a net margin of 7.90% and a return on equity of 12.40%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, research analysts predict that STERIS will post 8.5 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be given a $0.47 dividend. This is a positive change from STERIS’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, September 6th. STERIS’s dividend payout ratio is 46.11%.

Insider Buying and Selling

In related news, VP John Adam Zangerle sold 2,659 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $205.31, for a total value of $545,919.29. Following the sale, the vice president now directly owns 27,936 shares of the company’s stock, valued at approximately $5,735,540.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On STERIS

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of STERIS by 1.3% during the first quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock worth $2,786,586,000 after acquiring an additional 143,253 shares during the period. State Street Corp increased its holdings in STERIS by 0.4% during the first quarter. State Street Corp now owns 4,229,089 shares of the medical equipment provider’s stock valued at $1,022,467,000 after buying an additional 17,292 shares during the period. Invesco Ltd. increased its holdings in STERIS by 89.8% during the first quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock valued at $230,645,000 after buying an additional 451,235 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in STERIS by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 477,929 shares of the medical equipment provider’s stock valued at $115,549,000 after buying an additional 11,738 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in STERIS by 42.3% during the first quarter. Goldman Sachs Group Inc. now owns 218,395 shares of the medical equipment provider’s stock valued at $52,802,000 after buying an additional 64,877 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

STERIS Company Profile

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STERIS plc provides infection prevention and other procedural 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; accessories for gastrointestinal (GI) procedures, 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.

Further Reading

Earnings History and Estimates for STERIS (NYSE:STE)

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