STERIS (NYSE:STE – Get 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 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
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.
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