STERIS’s (STE) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of STERIS (NYSE:STE) in a research report report published on Thursday,Benzinga reports. They currently have a $265.00 price target on the medical equipment provider’s stock.

Several other brokerages have also commented on STE. Piper Sandler upped their price objective on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $240.00 price target on shares of STERIS in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Trading Up 1.9 %

STE opened at $221.18 on Thursday. The stock has a market capitalization of $21.73 billion, a PE ratio of 46.96 and a beta of 0.87. STERIS has a one year low of $197.82 and a one year high of $248.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The business’s 50 day moving average price is $222.61 and its 200 day moving average price is $219.62.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. As a group, equities research analysts expect that STERIS will post 9.08 EPS for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a $0.57 dividend. The ex-dividend date was 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 presently 48.41%.

Institutional Investors Weigh In On STERIS

Several large investors have recently bought and sold shares of the stock. Select Equity Group L.P. grew its position in shares of STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider’s stock worth $534,400,000 after buying an additional 1,619,796 shares in the last quarter. Geode Capital Management LLC grew its holdings in STERIS by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider’s stock worth $483,775,000 after acquiring an additional 56,123 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of STERIS by 15.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider’s stock valued at $257,585,000 after purchasing an additional 172,795 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of STERIS by 45.1% in the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock valued at $250,130,000 after purchasing an additional 378,252 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of STERIS by 7.4% during the 4th quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider’s stock worth $249,352,000 after purchasing an additional 83,601 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Company Profile

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.