STERIS (NYSE:STE) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of STERIS (NYSE:STE) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Other research analysts also recently issued reports about the stock. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. 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 report on Tuesday, September 3rd. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Stock Performance

NYSE:STE opened at $223.87 on Tuesday. STERIS has a twelve month low of $195.47 and a twelve month high of $248.24. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $234.57 and a 200-day moving average of $226.59. The firm has a market cap of $22.08 billion, a price-to-earnings ratio of 55.59 and a beta of 0.84.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The business 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 firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share. Analysts forecast that STERIS will post 9.06 earnings per share for the current fiscal year.

Insider Activity at STERIS

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

Institutional Trading of STERIS

Institutional investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC lifted its stake in shares of STERIS by 8.7% in the third quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 134 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of STERIS by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after buying an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake 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 worth $23,909,000 after buying an additional 3,342 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of STERIS in the first quarter worth $903,000. Finally, BDF Gestion acquired a new stake in shares of STERIS in the second quarter worth $2,644,000. 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.