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 released on Monday,Benzinga reports. They presently have a $265.00 target price on the medical equipment provider’s stock. JMP Securities’ price target indicates a potential upside of 20.38% from the company’s current price.

A number of other research firms have also weighed in on STE. KeyCorp upped their price objective on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, November 8th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Trading Up 0.0 %

STE stock traded up $0.02 during mid-day trading on Monday, reaching $220.14. The company had a trading volume of 192,570 shares, compared to its average volume of 491,269. The company has a market capitalization of $21.73 billion, a PE ratio of 50.20 and a beta of 0.85. The firm has a 50 day moving average of $230.37 and a 200 day moving average of $228.59. STERIS has a 12 month low of $195.47 and a 12 month 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.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion for 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%. STERIS’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 earnings per share. On average, equities analysts predict that STERIS will post 9.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On STERIS

Several hedge funds have recently modified their holdings of STE. Bleakley Financial Group LLC raised its stake in shares of STERIS by 8.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 134 shares during the period. Assetmark Inc. grew its position in shares of STERIS by 24.6% in the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock valued at $3,252,000 after purchasing an additional 2,647 shares during the period. BDF Gestion purchased a new stake in shares of STERIS during the second quarter worth about $2,644,000. Price T Rowe Associates Inc. MD raised its position in shares of STERIS by 7.5% during the 1st 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 purchasing an additional 120,616 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its holdings in STERIS by 11.0% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 60,302 shares of the medical equipment provider’s stock worth $13,727,000 after buying an additional 5,999 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.