STERIS (NYSE:STE) Posts Earnings Results, Beats Estimates By $0.26 EPS

STERIS (NYSE:STE) announced its earnings results on Wednesday. The medical equipment provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.68 by $0.26, FiscalAI reports. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 EPS.

STERIS Stock Up 1.7%

Shares of STE stock traded up $4.32 during trading hours on Thursday, reaching $252.23. The company had a trading volume of 884,115 shares, compared to its average volume of 765,931. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.35. The business has a fifty day simple moving average of $219.84 and a 200-day simple moving average of $224.81. STERIS has a 12 month low of $195.14 and a 12 month high of $269.44. The company has a market cap of $24.59 billion, a price-to-earnings ratio of 30.81 and a beta of 0.86.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Tuesday, November 17th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.1%. STERIS’s dividend payout ratio is 33.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. Piper Sandler restated an “overweight” rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Finally, UBS Group decreased their price target on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.33.

Insiders Place Their Bets

In other STERIS news, Director Mohsen Sohi sold 4,058 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the sale, the director directly owned 24,305 shares of the company’s stock, valued at approximately $5,730,632.90. This represents a 14.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.12% of the company’s stock.

STERIS Company Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.