JMP Securities Reiterates Market Outperform Rating for STERIS (NYSE:STE)

STERIS (NYSE:STE)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a report issued on Monday,Benzinga reports. They presently have a $265.00 target price on the medical equipment provider’s stock. JMP Securities’ target price would suggest a potential upside of 25.01% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. KeyCorp boosted their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Stephens restated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.00.

STERIS Trading Down 2.1 %

NYSE STE opened at $211.98 on Monday. STERIS has a 1 year low of $195.47 and a 1 year high of $248.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The company has a market capitalization of $20.92 billion, a PE ratio of 48.40 and a beta of 0.85. The company has a fifty day moving average of $229.80 and a 200 day moving average of $228.66.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. Research analysts forecast that STERIS will post 9.15 earnings per share for the current year.

Insider Activity at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of STERIS by 13.7% during the 2nd 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. Geode Capital Management LLC increased its stake in STERIS by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock worth $556,786,000 after acquiring an additional 17,007 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in STERIS by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after buying an additional 120,616 shares during the period. Impax Asset Management Group plc increased its position in shares of STERIS by 29.7% during 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 during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of STERIS by 9.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock worth $270,230,000 after acquiring an additional 96,336 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.