STERIS plc (NYSE:STE) Receives $262.50 Consensus Price Target from Analysts

Shares of STERIS plc (NYSE:STE) have received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $262.50.

Several equities analysts recently weighed in on STE shares. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Monday, November 18th. Stephens reaffirmed an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th.

STERIS Price Performance

NYSE:STE opened at $218.54 on Friday. STERIS has a 1-year low of $197.82 and a 1-year high of $248.24. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $211.68 and a 200 day simple moving average of $224.74. The stock has a market capitalization of $21.57 billion, a PE ratio of 49.89 and a beta of 0.84.

STERIS (NYSE:STE) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $2.03 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that STERIS will post 9.1 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, November 19th. STERIS’s dividend payout ratio is currently 52.05%.

Insider Transactions at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction on Monday, November 25th. The stock was 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On STERIS

A number of hedge funds and other institutional investors have recently modified their holdings of STE. Ashton Thomas Securities LLC acquired a new stake in shares of STERIS during the third quarter worth $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS during the third quarter worth $28,000. Brown Brothers Harriman & Co. lifted its holdings in shares of STERIS by 154.7% during the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 116 shares in the last quarter. Quarry LP acquired a new stake in shares of STERIS during the third quarter worth $67,000. Finally, Asset Dedication LLC lifted its holdings in shares of STERIS by 54.8% during the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after buying an additional 103 shares in the last quarter. 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.