Piper Sandler Forecasts Strong Price Appreciation for STERIS (NYSE:STE) Stock

STERIS (NYSE:STE) had its price objective boosted by stock analysts at Piper Sandler from $260.00 to $265.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s target price indicates a potential upside of 21.04% from the company’s current price.

Several other research analysts also recently commented on STE. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $263.75.

STERIS Stock Performance

NYSE:STE traded down $1.71 during trading hours on Monday, hitting $218.94. 93,293 shares of the company traded hands, compared to its average volume of 432,653. 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 twelve month low of $197.82 and a twelve month high of $248.24. The firm has a 50-day moving average of $212.15 and a 200 day moving average of $224.70. The stock has a market capitalization of $21.61 billion, a price-to-earnings ratio of 49.94 and a beta of 0.84.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share 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 analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. STERIS’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.03 EPS. On average, analysts forecast that STERIS will post 9.11 EPS for the current year.

Insider Transactions at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in STERIS by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock worth $556,786,000 after purchasing an additional 17,007 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of STERIS by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,119,643 shares of the medical equipment provider’s stock valued at $230,160,000 after purchasing an additional 5,419 shares during the period. Franklin Resources Inc. lifted its holdings in shares of STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after purchasing an additional 529,308 shares in the last quarter. Raymond James & Associates boosted its position in shares of STERIS by 1.5% during the third quarter. Raymond James & Associates now owns 801,144 shares of the medical equipment provider’s stock worth $194,309,000 after buying an additional 12,005 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of STERIS by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider’s stock worth $133,749,000 after buying an additional 6,334 shares in the last quarter. Institutional investors and hedge funds 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.