STERIS (NYSE:STE) Earns Overweight Rating from Piper Sandler

STERIS (NYSE:STE)‘s stock had its “overweight” rating restated by stock analysts at Piper Sandler in a note issued to investors on Friday,Benzinga reports. They presently have a $275.00 target price on the medical equipment provider’s stock, up from their prior target price of $270.00. Piper Sandler’s price target indicates a potential upside of 16.18% from the stock’s current price.

Other analysts also recently issued reports about the company. KeyCorp decreased their price target on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Wall Street Zen lowered STERIS from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group began coverage on STERIS in a research note on Tuesday, July 28th. They set a “buy” rating and a $275.00 target price for the company. Finally, Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $278.50.

STERIS Trading Up 2.1%

Shares of NYSE:STE traded up $4.92 during trading on Friday, reaching $236.70. The stock had a trading volume of 255,963 shares, compared to its average volume of 800,072. The firm’s fifty day moving average is $214.35 and its 200 day moving average is $225.40. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. STERIS has a 52 week low of $195.14 and a 52 week high of $269.44. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 28.93 and a beta of 0.91.

STERIS (NYSE:STE) last announced 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. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.49 billion. STERIS had a net margin of 13.34% and a return on equity of 14.39%. STERIS’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 earnings per share. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. As a group, equities analysts forecast that STERIS will post 11.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Daniel A. Carestio sold 1,374 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $212.00, for a total value of $291,288.00. Following the completion of the sale, the chief executive officer directly owned 63,647 shares of the company’s stock, valued at $13,493,164. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,328 shares of company stock worth $1,554,051 in the last three months. Company insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On STERIS

A number of institutional investors have recently modified their holdings of STE. Trust Co. of Vermont bought a new position in shares of STERIS in the 2nd quarter worth $41,000. Plato Investment Management Ltd bought a new stake in STERIS during the 2nd quarter valued at $843,000. Stoneridge Investment Partners LLC acquired a new position in STERIS during the second quarter worth $1,027,000. Generali Investments Management Co LLC acquired a new position in STERIS during the second quarter worth $262,000. Finally, Fulton Bank N.A. lifted its stake in shares of STERIS by 10.4% in the second quarter. Fulton Bank N.A. now owns 2,881 shares of the medical equipment provider’s stock valued at $607,000 after buying an additional 272 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

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.