STERIS (NYSE:STE) Issues FY 2023 Earnings Guidance

STERIS (NYSE:STE – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided EPS guidance of $8.40-$8.60 for the period, compared to the consensus EPS estimate of $8.49. The company issued revenue guidance of $4.95 billion-$4.95 billion, compared to the consensus revenue estimate of $4.98 billion.

STERIS Stock Performance

Shares of STE stock opened at $190.28 on Friday. The firm has a fifty day moving average of $172.62 and a 200-day moving average of $195.36. STERIS has a 52-week low of $159.21 and a 52-week high of $255.93. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 2.16.

STERIS (NYSE:STE – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The medical equipment provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. STERIS had a negative net margin of 0.17% and a positive return on equity of 12.75%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.99 earnings per share. On average, equities research analysts forecast that STERIS will post 8.45 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Tuesday, November 22nd will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.99%. STERIS’s payout ratio is presently -1,708.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on STE shares. Needham & Company LLC cut shares of STERIS from a buy rating to a hold rating in a research report on Friday, September 23rd. KeyCorp dropped their price objective on shares of STERIS from $240.00 to $210.00 and set an overweight rating for the company in a report on Friday, November 11th. Finally, StockNews.com cut shares of STERIS from a buy rating to a hold rating in a research note on Friday, December 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $242.40.

Institutional Trading of STERIS

Hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of STERIS by 89.8% in the 1st 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. Vanguard Group Inc. lifted its stake in STERIS by 1.3% in the first quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock valued at $2,786,586,000 after buying an additional 143,253 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its stake in STERIS by 280.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 96,390 shares of the medical equipment provider’s stock worth $16,028,000 after purchasing an additional 71,036 shares during the period. First Trust Advisors LP grew its holdings in shares of STERIS by 207.0% during the first quarter. First Trust Advisors LP now owns 103,106 shares of the medical equipment provider’s stock worth $24,928,000 after buying an additional 69,518 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of STERIS by 42.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,395 shares of the medical equipment provider’s stock worth $52,802,000 after acquiring an additional 64,877 shares in the last quarter. 92.04% of the stock is owned by 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.