STERIS (NYSE:STE) Raised to “Strong-Buy” at UBS Group

STERIS (NYSE:STE) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on STE. KeyCorp reduced their price objective on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings cut shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $270.00 price target on shares of STERIS in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $277.25.

STERIS Stock Up 5.5%

NYSE:STE opened at $230.39 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. STERIS has a 12-month low of $195.14 and a 12-month high of $269.44. The stock’s fifty day simple moving average is $212.12 and its 200-day simple moving average is $226.90. The firm has a market capitalization of $22.45 billion, a P/E ratio of 29.05 and a beta of 0.92.

STERIS (NYSE:STE) last released its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $2.74 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities research analysts expect that STERIS will post 11.18 earnings per share for the current year.

Insider Activity at STERIS

In other news, VP John Adam Zangerle sold 1,419 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $209.28, for a total value of $296,968.32. Following the completion of the transaction, the vice president owned 35,259 shares in the company, valued at $7,379,003.52. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the chief executive officer directly owned 65,021 shares in the company, valued at approximately $13,956,107.44. This represents a 4.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 7,328 shares of company stock valued at $1,554,051. Corporate insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On STERIS

A number of institutional investors and hedge funds have recently made changes to their positions in STE. Activest Wealth Management increased its holdings in STERIS by 423.8% during the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 89 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of STERIS during the 4th quarter worth about $28,000. Western Wealth Management LLC bought a new stake in shares of STERIS in the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its stake in STERIS by 342.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 89 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in STERIS by 1,130.0% during the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 113 shares during the period. Institutional investors own 94.69% of the company’s stock.

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.