STERIS’s (STE) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of STERIS (NYSE:STE) in a research note issued to investors on Friday,Benzinga reports. They currently have a $275.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $270.00.

Other research analysts also recently issued research reports about the stock. KeyCorp lowered their price objective on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings cut shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of STERIS from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group started coverage on shares of STERIS in a report on Tuesday, July 28th. They issued a “buy” rating and a $275.00 target price on the stock. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $271.33.

STERIS Trading Up 2.6%

Shares of STERIS stock opened at $237.70 on Friday. The stock has a market capitalization of $23.17 billion, a PE ratio of 29.06 and a beta of 0.91. STERIS has a 52 week low of $195.14 and a 52 week high of $269.44. The stock has a 50 day moving average price of $214.86 and a two-hundred day moving average price of $225.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 1.91.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.10. STERIS had a return on equity of 14.34% and a net margin of 13.34%.The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. STERIS’s revenue for the quarter was up 7.3% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. As a group, equities analysts anticipate that STERIS will post 11.17 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from STERIS’s previous quarterly dividend of $0.63. STERIS’s payout ratio is currently 30.81%.

Insider Buying and Selling at STERIS

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of STERIS during the 4th quarter valued at $320,298,000. AQR Capital Management LLC increased its position in STERIS by 178.6% in the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock worth $291,704,000 after buying an additional 758,423 shares during the last quarter. Boston Partners bought a new stake in shares of STERIS in the third quarter valued at $158,982,000. Orbis Allan Gray Ltd raised its stake in shares of STERIS by 36.0% in the second quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock valued at $504,486,000 after buying an additional 556,088 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of STERIS by 25.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock valued at $411,995,000 after buying an additional 380,504 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS News Roundup

Here are the key news stories impacting STERIS this week:

• Positive Sentiment: Piper Sandler raised its price target to $275 from $270 while reaffirming an “overweight” rating. The revised target implies roughly 16% potential upside from the referenced share price, signaling continued confidence in STERIS’s earnings growth and medical-equipment demand. Benzinga analyst rating report
• Positive Sentiment: Fiscal first-quarter adjusted EPS came in at $2.59, ahead of the approximately $2.49 consensus estimate, while revenue rose 7.3% year over year to $1.49 billion. Growth was broad-based: Healthcare revenue increased 8%, Applied Sterilization Technologies rose 6% and Life Sciences advanced 9%. STERIS fiscal 2027 first-quarter results
• Positive Sentiment: STERIS plans to invest approximately $600 million in a North Carolina manufacturing hub expected to create about 335 jobs. The project should expand production capacity and support the company’s formulated-chemistries business over the longer term. STERIS North Carolina manufacturing investment
• Neutral Sentiment: Fiscal 2027 guidance was maintained broadly in line with expectations. Adjusted EPS is projected at approximately $11.00–$11.30 and revenue at about $6.4 billion, consistent with expected 7%–8% revenue growth. The company increased capital-expenditure guidance to roughly $450 million and expects free cash flow of about $800 million.
• Negative Sentiment: Revenue was described as modestly below some estimates despite the earnings beat, and operating cash flow declined year over year. STERIS also expects $55 million–$70 million in pretax restructuring charges tied to the North Carolina center, creating near-term cost and execution risks. STERIS earnings analysis

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.