STERIS (NYSE:STE) Rating Lowered to Buy at StockNews.com

STERIS (NYSE:STEGet Free Report) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research firms have also recently weighed in on STE. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

View Our Latest Analysis on STERIS

STERIS Stock Performance

Shares of STE stock opened at $224.01 on Tuesday. The stock has a market cap of $22.09 billion, a PE ratio of 55.59 and a beta of 0.84. The business has a 50-day simple moving average of $234.76 and a 200-day simple moving average of $226.46. 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 has a 52-week low of $195.47 and a 52-week high of $248.24.

STERIS (NYSE:STEGet Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.16. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. On average, equities analysts expect that STERIS will post 9.06 EPS for the current year.

Insider Activity

In other news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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. This 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 at this link. In other news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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. This 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 at this link. Also, 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 value 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. Company insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STE. Massachusetts Financial Services Co. MA grew its position in STERIS by 13.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after acquiring an additional 778,613 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of STERIS by 7,418.7% in the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock valued at $75,132,000 after acquiring an additional 305,651 shares in the last quarter. Sustainable Growth Advisers LP raised its stake in shares of STERIS by 23.5% in the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after acquiring an additional 282,387 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of STERIS by 29.7% in the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after acquiring an additional 263,383 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of STERIS by 1,946.3% in the second quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock valued at $59,344,000 after acquiring an additional 257,101 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

About STERIS

(Get Free Report)

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.

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Analyst Recommendations for STERIS (NYSE:STE)

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