STERIS (NYSE:STE) Issues Quarterly Earnings Results

STERIS (NYSE:STE) released its quarterly earnings data on Wednesday. The medical equipment provider reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.10, Zacks reports. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion. STERIS had a net margin of 13.34% and a return on equity of 14.39%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.34 earnings per share. STERIS updated its FY 2027 guidance to 11.000-11.300 EPS.

STERIS Stock Performance

NYSE:STE traded up $4.10 during trading hours on Friday, reaching $235.88. 174,980 shares of the stock were exchanged, compared to its average volume of 799,384. STERIS has a 52 week low of $195.14 and a 52 week high of $269.44. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $22.99 billion, a P/E ratio of 28.78 and a beta of 0.91. The firm has a 50 day simple moving average of $214.35 and a 200-day simple moving average of $225.40.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.76 dividend on an annualized basis and a yield of 1.2%. This is a boost from STERIS’s previous quarterly dividend of $0.63. STERIS’s dividend payout ratio (DPR) is 30.81%.

Insider Buying and Selling

In other news, CEO Daniel A. Carestio sold 3,054 shares of STERIS stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $214.64, for a total value of $655,510.56. Following the completion of the transaction, the chief executive officer directly owned 65,021 shares of the company’s stock, valued at approximately $13,956,107.44. The trade was a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Adam Zangerle sold 1,419 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $209.28, for a total transaction of $296,968.32. Following the sale, the vice president owned 35,259 shares in the company, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,328 shares of company stock worth $1,554,051 over the last ninety days. 1.12% of the stock is owned by insiders.

Institutional Trading of STERIS

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in STERIS by 6.0% during the 4th quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock worth $1,169,957,000 after buying an additional 260,001 shares during the last quarter. Orbis Allan Gray Ltd grew its position in shares of STERIS by 5.6% during the fourth quarter. Orbis Allan Gray Ltd now owns 2,249,511 shares of the medical equipment provider’s stock worth $570,296,000 after acquiring an additional 120,200 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of STERIS by 37.2% in the 4th quarter. AQR Capital Management LLC now owns 1,623,234 shares of the medical equipment provider’s stock worth $411,522,000 after acquiring an additional 440,164 shares during the period. Janus Henderson Group PLC increased its holdings in shares of STERIS by 0.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,482,635 shares of the medical equipment provider’s stock worth $375,879,000 after acquiring an additional 13,175 shares during the period. Finally, Invesco Ltd. lifted its position in STERIS by 10.2% in the 4th quarter. Invesco Ltd. now owns 1,410,612 shares of the medical equipment provider’s stock valued at $357,618,000 after purchasing an additional 130,470 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STE has been the topic of several research reports. Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. UBS Group started coverage on shares of STERIS in a report on Tuesday, July 28th. They set a “buy” rating and a $275.00 target price for the company. KeyCorp cut their target price on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $270.00 price objective on shares of STERIS in a research note on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $277.25.

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.