STERIS (NYSE:STE) Lowered to Hold at StockNews.com

StockNews.com lowered shares of STERIS (NYSE:STEGet Rating) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Other equities research analysts have also issued research reports about the stock. TheStreet lowered shares of STERIS from a b- rating to a c rating in a research note on Thursday, June 16th. Piper Sandler initiated coverage on shares of STERIS in a report on Thursday, July 14th. They set an overweight rating and a $240.00 price target on the stock. Finally, Wolfe Research initiated coverage on shares of STERIS in a report on Tuesday, April 5th. They set an outperform rating and a $275.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $251.71.

STERIS Trading Up 1.9 %

Shares of NYSE:STE opened at $211.98 on Wednesday. The firm has a fifty day moving average of $212.61 and a two-hundred day moving average of $225.17. The firm has a market capitalization of $21.21 billion, a P/E ratio of 56.83 and a beta of 0.71. STERIS has a 12-month low of $192.40 and a 12-month high of $255.93. The company has a quick ratio of 1.41, a current ratio of 2.03 and a debt-to-equity ratio of 0.44.

STERIS (NYSE:STEGet Rating) last issued its earnings results on Wednesday, May 11th. The medical equipment provider reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. STERIS had a net margin of 7.90% and a return on equity of 12.40%. On average, equities analysts expect that STERIS will post 8.5 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, September 6th. This is an increase from STERIS’s previous quarterly dividend of $0.43. STERIS’s dividend payout ratio (DPR) is 46.11%.

Insider Buying and Selling

In related news, VP John Adam Zangerle sold 2,659 shares of STERIS stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $205.31, for a total value of $545,919.29. Following the transaction, the vice president now owns 27,936 shares in the company, valued at approximately $5,735,540.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in STERIS by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock worth $2,786,586,000 after purchasing an additional 143,253 shares during the last quarter. BlackRock Inc. grew its position in STERIS by 0.7% in the 1st quarter. BlackRock Inc. now owns 8,187,989 shares of the medical equipment provider’s stock worth $1,979,609,000 after purchasing an additional 59,414 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in STERIS by 1.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,363,147 shares of the medical equipment provider’s stock worth $1,054,878,000 after purchasing an additional 81,040 shares during the last quarter. State Street Corp grew its position in STERIS by 0.4% in the 1st quarter. State Street Corp now owns 4,229,089 shares of the medical equipment provider’s stock worth $1,022,467,000 after purchasing an additional 17,292 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in STERIS by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,855,821 shares of the medical equipment provider’s stock worth $450,622,000 after purchasing an additional 12,804 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

About STERIS

(Get Rating)

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.

Further Reading

Analyst Recommendations for STERIS (NYSE:STE)

Receive News & Ratings for STERIS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STERIS and related companies with MarketBeat.com's FREE daily email newsletter.