STERIS (NYSE:STE) Stock Rating Reaffirmed by Piper Sandler

STERIS (NYSE:STE)‘s stock had its “neutral” rating restated by stock analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $225.00 target price on the medical equipment provider’s stock, up from their prior target price of $220.00. Piper Sandler’s price objective would indicate a potential downside of 0.44% from the company’s previous close.

A number of other equities analysts have also recently weighed in on STE. StockNews.com cut STERIS from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. TheStreet raised shares of STERIS from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday. KeyCorp began 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. Finally, Stephens reaffirmed an “overweight” rating and issued a $250.00 target price on shares of STERIS in a research report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $241.60.

STERIS Trading Up 7.6 %

Shares of STE stock opened at $225.99 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $217.02 and a 200 day simple moving average of $216.04. STERIS has a fifty-two week low of $195.47 and a fifty-two week high of $254.00. The stock has a market capitalization of $22.33 billion, a P/E ratio of 39.58 and a beta of 0.81.

STERIS (NYSE:STE) last issued 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. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $2.30 earnings per share. On average, sell-side analysts expect that STERIS will post 8.67 earnings per share for the current fiscal year.

Institutional Trading of STERIS

A number of institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp boosted its holdings in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 53 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of STERIS by 1.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 145,800 shares of the medical equipment provider’s stock valued at $32,779,000 after acquiring an additional 1,742 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in STERIS by 3.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,009,157 shares of the medical equipment provider’s stock worth $226,879,000 after purchasing an additional 32,755 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in STERIS by 3.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after purchasing an additional 3,342 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in STERIS by 8.3% during the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after purchasing an additional 4,494 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

About STERIS

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.