STERIS (NYSE:STE) Upgraded at Piper Sandler

STERIS (NYSE:STE) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a $260.00 price target on the medical equipment provider’s stock, up from their previous price target of $230.00. Piper Sandler’s target price indicates a potential upside of 16.01% from the stock’s previous close.

STE has been the subject of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. StockNews.com upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a report on Monday, October 21st. KeyCorp upped their price target on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Finally, Stephens reaffirmed an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Stock Down 1.4 %

Shares of NYSE STE opened at $224.12 on Thursday. The stock has a market capitalization of $22.10 billion, a price-to-earnings ratio of 55.61 and a beta of 0.84. STERIS has a 52 week low of $195.47 and a 52 week high of $248.24. The firm has a 50-day moving average price of $234.76 and a 200 day moving average price of $226.26. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $1.28 billion during 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 for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $2.00 EPS. Equities research analysts anticipate that STERIS will post 9.06 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of STERIS

A number of institutional investors and hedge funds have recently made changes to their positions in the company. West Coast Financial LLC grew its position in STERIS by 2.8% during the third quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after acquiring an additional 45 shares during the period. Taylor Frigon Capital Management LLC lifted its stake in shares of STERIS by 0.8% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock valued at $1,356,000 after purchasing an additional 46 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in shares of STERIS by 77.9% during the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 53 shares during the period. Mather Group LLC. increased its position in STERIS by 7.6% during the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock worth $172,000 after purchasing an additional 54 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in STERIS by 16.5% in the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock valued at $82,000 after buying an additional 57 shares during the period. 94.69% of the stock is currently 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.