STERIS (NYSE:STE) Sets New 1-Year High on Analyst Upgrade

STERIS plc (NYSE:STE)’s share price hit a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $255.00 to $265.00. KeyCorp currently has an overweight rating on the stock. STERIS traded as high as $244.30 and last traded at $244.03, with a volume of 65725 shares traded. The stock had previously closed at $241.10.

Several other equities research analysts also recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Stephens reissued an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective (up from $220.00) on shares of STERIS in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

Insider Activity at STERIS

In related news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On STERIS

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Personal Financial Services acquired a new stake in STERIS in the 1st quarter worth about $25,000. J.Safra Asset Management Corp lifted its holdings in shares of STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 53 shares during the last quarter. Quent Capital LLC raised its position in STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in shares of STERIS in the 4th quarter valued at $34,000. Finally, Headlands Technologies LLC purchased a new stake in STERIS during the first quarter worth about $36,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Trading Up 0.9 %

The company’s 50 day moving average price is $229.98 and its 200 day moving average price is $224.62. The firm has a market cap of $24.00 billion, a PE ratio of 63.71 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $2.00 EPS. As a group, analysts forecast that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a $0.57 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.94%. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio (DPR) is currently 54.45%.

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.