STERIS plc (NYSE:STE) Receives Average Recommendation of “Moderate Buy” from Analysts

STERIS plc (NYSE:STE) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $263.83.

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Jefferies Financial Group started coverage on STERIS in a report on Thursday, May 29th. They issued a “hold” rating and a $263.00 price objective for the company. JMP Securities boosted their price objective on STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 14th.

STERIS Price Performance

NYSE STE opened at $227.92 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. STERIS has a 1 year low of $200.98 and a 1 year high of $252.79. The stock’s 50-day moving average price is $238.56 and its two-hundred day moving average price is $225.89. The company has a market cap of $22.42 billion, a PE ratio of 36.76 and a beta of 0.92.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. On average, analysts predict that STERIS will post 9.08 EPS for the current year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Tuesday, June 10th. STERIS’s dividend payout ratio (DPR) is currently 36.77%.

Insider Buying and Selling

In related news, CEO Daniel A. Carestio sold 17,626 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the transaction, the chief executive officer directly owned 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president directly owned 11,372 shares in the company, valued at $2,843,909.76. The trade was a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On STERIS

A number of institutional investors have recently bought and sold shares of STE. Geneos Wealth Management Inc. grew its position in shares of STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Avalon Trust Co bought a new stake in shares of STERIS during the fourth quarter valued at approximately $30,000. Grove Bank & Trust raised its stake in STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 142 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in STERIS in the first quarter worth approximately $37,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of STERIS during the first quarter worth $43,000. 94.69% of the stock is owned by institutional investors.

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.