STERIS (NYSE:STE) Receives Market Outperform Rating from JMP Securities

STERIS (NYSE:STE)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a note issued to investors on Thursday, Benzinga reports. They presently have a $265.00 price objective on the medical equipment provider’s stock. JMP Securities’ target price would suggest a potential upside of 18.10% from the company’s current price.

STE has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, April 12th. KeyCorp started coverage on shares of STERIS in a research report on Tuesday, February 6th. They set an “overweight” rating and a $253.00 price objective on the stock. TheStreet raised shares of STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Stephens reaffirmed an “overweight” rating and set a $250.00 price target on shares of STERIS in a report on Friday, February 9th. Finally, StockNews.com downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $239.60.

STERIS Stock Performance

STE stock traded up $14.29 during mid-day trading on Thursday, hitting $224.38. The company had a trading volume of 603,162 shares, compared to its average volume of 471,260. The stock’s fifty day moving average price is $217.16 and its two-hundred day moving average price is $215.97. STERIS has a 12 month low of $187.07 and a 12 month high of $254.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. The firm has a market cap of $22.17 billion, a PE ratio of 39.16 and a beta of 0.81.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm posted $2.30 EPS. STERIS’s revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that STERIS will post 8.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STERIS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC increased its holdings in STERIS by 9.4% in the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the medical equipment provider’s stock worth $128,000 after buying an additional 49 shares during the period. First Hawaiian Bank raised its holdings in shares of STERIS by 0.4% during the 1st quarter. First Hawaiian Bank now owns 13,857 shares of the medical equipment provider’s stock worth $3,115,000 after acquiring an additional 50 shares during the period. Greenleaf Trust raised its holdings in shares of STERIS by 2.8% during the 3rd quarter. Greenleaf Trust now owns 1,888 shares of the medical equipment provider’s stock worth $414,000 after acquiring an additional 51 shares during the period. Park Edge Advisors LLC raised its holdings in shares of STERIS by 1.2% during the 4th quarter. Park Edge Advisors LLC now owns 4,409 shares of the medical equipment provider’s stock worth $969,000 after acquiring an additional 51 shares during the period. Finally, UMB Bank n.a. increased its position in shares of STERIS by 7.8% during the 4th quarter. UMB Bank n.a. now owns 716 shares of the medical equipment provider’s stock worth $157,000 after purchasing an additional 52 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.