STERIS (NYSE:STE) Earns Overweight Rating from Stephens

STERIS (NYSE:STE)‘s stock had its “overweight” rating restated by Stephens in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $240.00 price target on the medical equipment provider’s stock. Stephens’ target price points to a potential upside of 7.56% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Piper Sandler raised their price target on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, STERIS currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Price Performance

Shares of STERIS stock opened at $223.13 on Thursday. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 50.94 and a beta of 0.84. The firm’s 50-day moving average price is $212.49 and its two-hundred day moving average price is $224.60. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. STERIS has a 1-year low of $197.82 and a 1-year high of $248.24.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.78% and a net margin of 8.02%. On average, equities analysts predict that STERIS will post 9.11 earnings per share for the current fiscal year.

Insider Activity at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the sale, the senior vice president now owns 11,372 shares in the company, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STERIS

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in STERIS in the fourth quarter valued at about $223,987,000. Franklin Resources Inc. raised its position in shares of STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after acquiring an additional 529,308 shares during the period. Assenagon Asset Management S.A. raised its position in shares of STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock valued at $75,132,000 after acquiring an additional 305,651 shares during the period. Boston Trust Walden Corp boosted its stake in STERIS by 400.4% during the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock worth $46,198,000 after acquiring an additional 179,829 shares during the last quarter. Finally, Swedbank AB acquired a new position in STERIS during the third quarter valued at approximately $28,251,000. 94.69% of the stock is owned by institutional investors and hedge funds.

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.