Stephens Reiterates “Overweight” Rating for STERIS (NYSE:STE)

Stephens reissued their overweight rating on shares of STERIS (NYSE:STE) in a research note published on Thursday morning,Benzinga reports. Stephens currently has a $240.00 price objective on the medical equipment provider’s stock.

A number of other research firms also recently commented on STE. Piper Sandler increased their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.75.

STERIS Stock Up 2.1 %

Shares of NYSE:STE opened at $225.44 on Thursday. STERIS has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The firm’s 50 day moving average price is $212.33 and its 200 day moving average price is $224.59. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 51.47 and a beta of 0.84.

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

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, February 20th. STERIS’s payout ratio is currently 52.05%.

Insider Activity

In related 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 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 $2,471,363.04. This represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On STERIS

Several hedge funds have recently made changes to their positions in STE. West Coast Financial LLC lifted its position in STERIS by 2.8% during the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock worth $398,000 after acquiring an additional 45 shares during the period. Magnolia Capital Advisors LLC increased its holdings in shares of STERIS by 1.9% in the fourth quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider’s stock valued at $521,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of STERIS by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock worth $765,000 after purchasing an additional 51 shares during the period. Park Edge Advisors LLC lifted its holdings in shares of STERIS by 1.1% during the fourth quarter. Park Edge Advisors LLC now owns 4,662 shares of the medical equipment provider’s stock worth $958,000 after purchasing an additional 51 shares during the period. Finally, Opal Wealth Advisors LLC increased its stake in STERIS by 5.7% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider’s stock valued at $230,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

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.