Needham & Company LLC Lowers STERIS (NYSE:STE) Price Target to $237.00

STERIS (NYSE:STEGet Rating) had its target price cut by stock analysts at Needham & Company LLC from $248.00 to $237.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 11.80% from the company’s current price.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of STERIS from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet downgraded shares of STERIS from a “b-” rating to a “c” rating in a report on Thursday, June 16th. Finally, Piper Sandler initiated coverage on shares of STERIS in a report on Thursday, July 14th. They issued an “overweight” rating and a $240.00 price target for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and an average price target of $251.71.

STERIS Stock Performance

NYSE:STE opened at $211.98 on Thursday. STERIS has a 1 year low of $192.40 and a 1 year high of $255.93. The firm’s fifty day simple moving average is $212.61 and its 200 day simple moving average is $225.17. The company has a current ratio of 2.03, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $21.21 billion, a PE ratio of 56.83 and a beta of 0.71.

STERIS (NYSE:STEGet Rating) last posted its earnings results on Wednesday, May 11th. The medical equipment provider reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.04. STERIS had a net margin of 7.90% and a return on equity of 12.40%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, sell-side analysts anticipate that STERIS will post 8.5 EPS for the current year.

Insider Transactions at STERIS

In other news, VP John Adam Zangerle sold 2,659 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $205.31, for a total transaction of $545,919.29. Following the completion of the transaction, the vice president now directly owns 27,936 shares of the company’s stock, valued at approximately $5,735,540.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.14% of the stock is owned by insiders.

Hedge Funds Weigh In On STERIS

Hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. lifted its holdings in shares of STERIS by 3.4% during the 1st quarter. Xponance Inc. now owns 7,648 shares of the medical equipment provider’s stock worth $1,849,000 after acquiring an additional 251 shares during the period. Assenagon Asset Management S.A. increased its position in shares of STERIS by 171.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 27,349 shares of the medical equipment provider’s stock worth $6,657,000 after purchasing an additional 17,275 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of STERIS during the 4th quarter worth about $447,000. SkyView Investment Advisors LLC increased its position in shares of STERIS by 838.8% during the 4th quarter. SkyView Investment Advisors LLC now owns 13,388 shares of the medical equipment provider’s stock worth $315,000 after purchasing an additional 11,962 shares in the last quarter. Finally, Eaton Vance Management increased its position in shares of STERIS by 1.8% during the 4th quarter. Eaton Vance Management now owns 10,809 shares of the medical equipment provider’s stock worth $2,288,000 after purchasing an additional 196 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

About STERIS

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STERIS plc provides infection prevention and other procedural 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; accessories for gastrointestinal (GI) procedures, 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.

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Analyst Recommendations for STERIS (NYSE:STE)

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