STERIS (NYSE:STE) Given New $265.00 Price Target at Piper Sandler

STERIS (NYSE:STE) had its price objective lifted by Piper Sandler from $260.00 to $265.00 in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on the company. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Monday, November 18th. Stephens reissued an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and an average price target of $263.75.

STERIS Stock Performance

Shares of STE opened at $220.97 on Monday. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 50.45 and a beta of 0.84. STERIS has a 52-week low of $197.82 and a 52-week high of $248.24. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $212.33 and a 200 day moving average price of $224.59.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.02% and a return on equity of 13.78%. Research analysts predict that STERIS will post 9.11 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be given a $0.57 dividend. The ex-dividend date is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. STERIS’s dividend payout ratio (DPR) is 52.05%.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in STE. Ashton Thomas Securities LLC acquired a new position in STERIS during the 3rd quarter worth approximately $25,000. Human Investing LLC acquired a new position in STERIS during the fourth quarter worth $31,000. Anfield Capital Management LLC raised its position in STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 91 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 76 shares during the period. Finally, Manchester Capital Management LLC boosted its position in shares of STERIS by 182.7% during the 4th quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 137 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

About STERIS

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.