STERIS (NYSE:STE) Price Target Raised to $280.00

STERIS (NYSE:STE) had its target price upped by JMP Securities from $265.00 to $280.00 in a report published on Friday morning,Benzinga reports. They currently have a market outperform rating on the medical equipment provider’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Piper Sandler lifted their price objective on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Stephens reiterated an “overweight” rating and set a $250.00 price objective on shares of STERIS in a research report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.00.

STERIS Trading Up 2.1%

STERIS stock opened at $252.12 on Friday. STERIS has a one year low of $200.98 and a one year high of $252.20. The business’s fifty day moving average is $224.13 and its 200 day moving average is $219.31. The stock has a market capitalization of $24.77 billion, a PE ratio of 53.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.15. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. On average, sell-side analysts predict that STERIS will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.90%. STERIS’s payout ratio is presently 36.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Select Equity Group L.P. raised its holdings in STERIS by 165.3% in the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider’s stock worth $534,400,000 after purchasing an additional 1,619,796 shares during the period. Orbis Allan Gray Ltd purchased a new stake in STERIS in the first quarter worth about $349,950,000. Norges Bank bought a new position in shares of STERIS in the fourth quarter worth about $238,836,000. Raymond James Financial Inc. bought a new position in shares of STERIS in the fourth quarter worth about $223,987,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of STERIS by 9.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider’s stock valued at $1,232,828,000 after buying an additional 452,146 shares in the last quarter. Hedge funds and other 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.