STERIS (NYSE:STE) PT Raised to $265.00

STERIS (NYSE:STE) had its price objective hoisted by equities research analysts at KeyCorp from $255.00 to $265.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s price objective indicates a potential upside of 10.23% from the stock’s previous close.

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

STERIS Stock Performance

Shares of NYSE:STE opened at $240.41 on Tuesday. The company’s 50 day simple moving average is $229.98 and its 200 day simple moving average is $224.62. 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 has a 1 year low of $195.47 and a 1 year high of $245.81. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 62.93 and a beta of 0.83.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. As a group, research analysts predict that STERIS will post 9.15 EPS for the current fiscal year.

Insider Activity

In related news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction that occurred 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 owns 582 shares of the company’s stock, valued at $139,493.76. The transaction was disclosed in a legal filing 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

A number of large investors have recently bought and sold shares of the stock. First Personal Financial Services bought a new position in shares of STERIS during the 1st quarter worth about $25,000. J.Safra Asset Management Corp grew its stake in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 53 shares during the period. Quent Capital LLC increased its holdings in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of STERIS during the fourth quarter valued at approximately $34,000. Finally, Headlands Technologies LLC acquired a new position in shares of STERIS during the first quarter worth approximately $36,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Company Profile

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.