Zacks Research Brokers Reduce Earnings Estimates for STERIS

STERIS plc (NYSE:STE) – Zacks Research reduced their Q3 2027 earnings per share (EPS) estimates for STERIS in a research note issued on Tuesday, August 5th. Zacks Research analyst R. Department now forecasts that the medical equipment provider will post earnings of $2.73 per share for the quarter, down from their prior estimate of $2.90. The consensus estimate for STERIS’s current full-year earnings is $9.08 per share.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $2.03 EPS.

Several other equities research analysts have also weighed in on STE. Stephens reissued an “overweight” rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. KeyCorp increased their price target on shares of STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Citigroup restated an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Finally, Morgan Stanley upgraded shares of STERIS from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $260.00 to $276.00 in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $270.33.

STERIS Stock Down 1.0%

STERIS stock opened at $221.59 on Wednesday. The stock has a market cap of $21.80 billion, a PE ratio of 35.74 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The stock’s fifty day moving average is $234.35 and its two-hundred day moving average is $228.30. STERIS has a 1-year low of $200.98 and a 1-year high of $252.79.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from STERIS’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. STERIS’s payout ratio is 36.77%.

Insider Buying and Selling

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction 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 trade represents a 25.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president owned 11,372 shares in the company, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On STERIS

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in STERIS by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 88,360 shares of the medical equipment provider’s stock worth $18,163,000 after acquiring an additional 394 shares during the period. Aviva PLC raised its stake in shares of STERIS by 55.1% during the fourth quarter. Aviva PLC now owns 84,672 shares of the medical equipment provider’s stock worth $17,405,000 after purchasing an additional 30,064 shares during the last quarter. Invesco Ltd. raised its stake in shares of STERIS by 9.3% during the fourth quarter. Invesco Ltd. now owns 1,022,479 shares of the medical equipment provider’s stock worth $210,181,000 after purchasing an additional 87,215 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of STERIS by 382.7% during the fourth quarter. Bank of Nova Scotia now owns 59,508 shares of the medical equipment provider’s stock worth $12,232,000 after purchasing an additional 47,181 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of STERIS by 0.5% during the fourth quarter. Bessemer Group Inc. now owns 1,141,125 shares of the medical equipment provider’s stock worth $234,569,000 after purchasing an additional 5,434 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

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.