STERIS (NYSE:STE) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of STERIS (NYSE:STE) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities research analysts have also weighed in on STE. UBS Group assumed coverage on shares of STERIS in a report on Tuesday. They set a “buy” rating and a $275.00 price target for the company. KeyCorp decreased their price objective on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Finally, Piper Sandler restated an “overweight” rating and set a $270.00 target price on shares of STERIS in a research note on Thursday, May 21st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and a consensus price target of $277.25.

STERIS Stock Down 1.1%

NYSE STE opened at $228.75 on Friday. The stock has a market cap of $22.29 billion, a PE ratio of 28.85 and a beta of 0.92. STERIS has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The business has a 50 day moving average price of $212.99 and a two-hundred day moving average price of $226.56. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25.

STERIS (NYSE:STE) last posted its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the business earned $2.74 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, sell-side analysts predict that STERIS will post 11.17 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, September 4th. This is a positive change from STERIS’s previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a yield of 1.2%. STERIS’s payout ratio is presently 31.78%.

Insiders Place Their Bets

In related news, Director Richard C. Breeden sold 1,481 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the completion of the sale, the director owned 38,964 shares of the company’s stock, valued at $8,163,347.64. This represents a 3.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Adam Zangerle sold 1,419 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $209.28, for a total transaction of $296,968.32. Following the sale, the vice president directly owned 35,259 shares of the company’s stock, valued at approximately $7,379,003.52. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,328 shares of company stock valued at $1,554,051. Company insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On STERIS

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of STERIS by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,286,535 shares of the medical equipment provider’s stock worth $3,114,882,000 after purchasing an additional 73,014 shares during the period. State Street Corp boosted its position in STERIS by 6.0% during the 4th quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock valued at $1,169,957,000 after purchasing an additional 260,001 shares during the period. Geode Capital Management LLC grew its stake in STERIS by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,523,620 shares of the medical equipment provider’s stock worth $637,259,000 after buying an additional 14,151 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in STERIS by 5.6% during the 4th quarter. Orbis Allan Gray Ltd now owns 2,249,511 shares of the medical equipment provider’s stock worth $570,296,000 after buying an additional 120,200 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in STERIS by 25.7% in the first quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock worth $411,995,000 after buying an additional 380,504 shares during the period. Institutional investors own 94.69% of the company’s stock.

STERIS Company Profile

STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.