STERIS (STE) to Release Earnings on Wednesday

STERIS (NYSE:STE – Get Rating) is set to announce its earnings results after the market closes on Wednesday, May 10th. Analysts expect the company to announce earnings of $2.15 per share for the quarter. STERIS has set its FY23 guidance at $8.00-8.10 EPS and its FY 2023 guidance at $8.00-$8.10 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

STERIS (NYSE:STE – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The medical equipment provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.17). The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a positive return on equity of 12.86% and a negative net margin of 0.58%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 EPS. On average, analysts expect STERIS to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

STERIS Price Performance

Shares of STERIS stock opened at $189.18 on Monday. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of -652.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 2.48. The stock has a 50 day moving average price of $186.44 and a 200-day moving average price of $186.78. STERIS has a one year low of $159.21 and a one year high of $236.10.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.88 annualized dividend and a yield of 0.99%. STERIS’s dividend payout ratio (DPR) is -648.28%.

Analysts Set New Price Targets

A number of analysts recently weighed in on STE shares. Stephens reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of STERIS in a research note on Thursday, February 9th. JMP Securities lowered their price objective on shares of STERIS from $250.00 to $240.00 and set a “market outperform” rating for the company in a research note on Wednesday, February 15th. Piper Sandler lowered shares of STERIS from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $215.00 to $197.00 in a research note on Friday, April 14th. TheStreet downgraded shares of STERIS from a “b-” rating to a “c+” rating in a report on Wednesday, March 1st. Finally, StockNews.com initiated coverage on shares of STERIS in a report on Thursday, March 16th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.80.

Institutional Trading of STERIS

Hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. increased its position in shares of STERIS by 16.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,538 shares of the medical equipment provider’s stock worth $284,000 after purchasing an additional 216 shares during the last quarter. Financial Advocates Investment Management purchased a new stake in STERIS during the fourth quarter worth about $316,000. Point72 Middle East FZE purchased a new stake in STERIS during the fourth quarter worth about $827,000. Resurgent Financial Advisors LLC purchased a new stake in STERIS during the fourth quarter worth about $66,000. Finally, Harbour Investments Inc. increased its stake in STERIS by 89.5% during the fourth quarter. Harbour Investments Inc. now owns 561 shares of the medical equipment provider’s stock worth $104,000 after purchasing an additional 265 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

About STERIS

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STERIS Plc engages in the provision of healthcare and life science product and service solutions. It operates through the following segments: Healthcare, Life Sciences, Applied Sterilization Technologies, and Dental. The Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites.