StockNews.com Downgrades STERIS (NYSE:STE) to Hold

STERIS (NYSE:STE) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other analysts have also issued reports on STE. JMP Securities reissued a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday, February 8th. TheStreet upgraded shares of STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. KeyCorp began coverage on shares of STERIS in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, April 12th. Finally, Stephens restated an “overweight” rating and set a $250.00 price objective on shares of STERIS in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $239.60.

STERIS Stock Performance

NYSE STE opened at $207.82 on Friday. The firm has a 50-day moving average price of $218.46 and a two-hundred day moving average price of $216.13. STERIS has a 12-month low of $185.22 and a 12-month high of $254.00. The company has a market capitalization of $20.53 billion, a P/E ratio of 36.40 and a beta of 0.81. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.05. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.02 earnings per share. Analysts anticipate that STERIS will post 8.67 earnings per share for the current year.

Hedge Funds Weigh In On STERIS

Several institutional investors and hedge funds have recently added to or reduced their stakes in STE. Global Retirement Partners LLC grew its holdings in STERIS by 9.4% during the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the medical equipment provider’s stock worth $128,000 after acquiring an additional 49 shares during the last quarter. First Hawaiian Bank grew its stake in shares of STERIS by 0.4% in the first quarter. First Hawaiian Bank now owns 13,857 shares of the medical equipment provider’s stock worth $3,115,000 after purchasing an additional 50 shares during the last quarter. Greenleaf Trust grew its stake in shares of STERIS by 2.8% in the third quarter. Greenleaf Trust now owns 1,888 shares of the medical equipment provider’s stock worth $414,000 after purchasing an additional 51 shares during the last quarter. Park Edge Advisors LLC increased its holdings in STERIS by 1.2% in the fourth quarter. Park Edge Advisors LLC now owns 4,409 shares of the medical equipment provider’s stock valued at $969,000 after purchasing an additional 51 shares during the period. Finally, UMB Bank n.a. raised its position in STERIS by 7.8% during the 4th quarter. UMB Bank n.a. now owns 716 shares of the medical equipment provider’s stock worth $157,000 after purchasing an additional 52 shares during the last quarter. Institutional investors 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.