STERIS (NYSE:STE) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of STERIS (NYSE:STE) from a buy rating to a strong-buy rating in a report released on Monday.

STE has been the subject of a number of other research reports. Stephens reissued an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. KeyCorp raised their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.00.

STERIS Stock Performance

Shares of STERIS stock opened at $224.37 on Monday. STERIS has a one year low of $195.47 and a one year high of $248.24. The company has a market capitalization of $22.13 billion, a PE ratio of 55.68 and a beta of 0.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. The company has a 50-day simple moving average of $235.46 and a two-hundred day simple moving average of $226.15.

STERIS (NYSE:STE) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. Research analysts expect that STERIS will post 9.06 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.02%. This is a boost from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, September 5th. STERIS’s payout ratio is presently 56.58%.

Insider Activity

In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the director now directly owns 582 shares in the company, valued at $139,493.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of STERIS by 8.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after purchasing an additional 4,494 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of STERIS by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock valued at $23,909,000 after buying an additional 3,342 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in shares of STERIS during the 1st quarter worth approximately $903,000. Artemis Investment Management LLP lifted its position in shares of STERIS by 21.0% during the 1st quarter. Artemis Investment Management LLP now owns 179,837 shares of the medical equipment provider’s stock valued at $40,410,000 after buying an additional 31,162 shares in the last quarter. Finally, BDF Gestion acquired a new stake in STERIS in the 2nd quarter valued at $2,644,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

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.