STERIS plc (NYSE:STE) Receives $243.60 Average Target Price from Brokerages

Shares of STERIS plc (NYSE:STE) have earned an average rating of “Moderate Buy” from the six brokerages that are presently 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $243.60.

Several equities research analysts recently issued reports on STE shares. StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Piper Sandler reissued a “neutral” rating and set a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. 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. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, Stephens restated an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th.

Insider Transactions at STERIS

In other news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the transaction, the director now owns 582 shares in the company, valued at $139,493.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in STERIS by 8.3% during 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 during the period. State Board of Administration of Florida Retirement System increased its holdings in STERIS by 3.2% during the 1st 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 purchasing an additional 3,342 shares during the period. Caden Capital Partners LP increased its holdings in STERIS by 80.0% during the 4th quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock valued at $18,096,000 after purchasing an additional 36,576 shares during the period. Diversify Advisory Services LLC purchased a new position in STERIS during the 1st quarter valued at about $903,000. Finally, Perpetual Ltd increased its holdings in STERIS by 9.3% during the 1st quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock valued at $9,121,000 after purchasing an additional 3,437 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $236.01 on Wednesday. STERIS has a 1 year low of $195.47 and a 1 year high of $243.37. The business has a fifty day simple moving average of $226.93 and a two-hundred day simple moving average of $224.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The company has a market capitalization of $23.33 billion, a P/E ratio of 61.78 and a beta of 0.83.

STERIS (NYSE:STE) last posted its quarterly 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 analyst estimates of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company earned $2.00 earnings per share. On average, analysts expect that STERIS will post 9.17 earnings per share for the current year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.57 per share. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.97%. STERIS’s dividend payout ratio (DPR) is presently 59.69%.

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.