Brokerages Set STERIS plc (NYSE:STE) Target Price at $241.60

Shares of STERIS plc (NYSE:STE) have received an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $241.60.

A number of brokerages have commented on STE. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Friday, July 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Finally, StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th.

Insider Activity

In related news, VP Renato Tamaro sold 1,154 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the transaction, the vice president now owns 6,677 shares in the company, valued at $1,546,660.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Renato Tamaro sold 1,154 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $231.64, for a total transaction of $267,312.56. Following the transaction, the vice president now directly owns 6,677 shares in the company, valued at $1,546,660.28. The disclosure for this sale can be found here. Insiders have sold 7,762 shares of company stock valued at $1,798,477 in the last three months. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Personal Financial Services purchased a new position in STERIS in the first quarter valued at about $25,000. J.Safra Asset Management Corp boosted its stake in shares of STERIS by 77.9% during the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 53 shares during the last quarter. Quent Capital LLC grew its position in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of STERIS in the fourth quarter worth $34,000. Finally, Headlands Technologies LLC acquired a new stake in STERIS in the first quarter valued at $36,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Trading Up 0.7 %

Shares of STE opened at $242.60 on Friday. The firm’s 50-day moving average is $224.15 and its two-hundred day moving average is $222.41. STERIS has a twelve month low of $195.47 and a twelve month high of $242.91. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $23.98 billion, a P/E ratio of 63.51 and a beta of 0.83.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.41 by $0.17. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.30 EPS. On average, research analysts predict that STERIS will post 9.25 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be given a $0.57 dividend. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, September 5th. STERIS’s dividend payout ratio (DPR) is 54.45%.

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.