STERIS plc (NYSE:STE) Receives $246.00 Average Target Price from Analysts

STERIS plc (NYSE:STE) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $246.00.

STE has been the topic of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. KeyCorp lifted their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th.

STERIS Stock Up 0.3 %

STE opened at $226.90 on Thursday. The company has a fifty day moving average of $236.75 and a two-hundred day moving average of $225.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. STERIS has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 59.40 and a beta of 0.84.

STERIS (NYSE:STE) last posted its quarterly earnings data 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. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. On average, research analysts expect that STERIS will post 9.06 earnings per share for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is currently 59.69%.

Insider Transactions at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in STERIS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock valued at $2,608,434,000 after acquiring an additional 53,526 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in STERIS by 13.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after acquiring an additional 778,613 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in STERIS by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after acquiring an additional 120,616 shares in the last quarter. Sustainable Growth Advisers LP grew its position in STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after acquiring an additional 282,387 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in STERIS by 29.7% in the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after acquiring an additional 263,383 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

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.