Piper Sandler Increases STERIS (NYSE:STE) Price Target to $265.00

STERIS (NYSE:STE) had its price objective increased 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 would suggest a potential upside of 21.04% from the company’s current price.

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

STERIS Stock Performance

NYSE STE traded down $1.71 on Monday, hitting $218.94. 93,293 shares of the stock were exchanged, compared to its average volume of 432,653. The company has a market capitalization of $21.61 billion, a PE ratio of 49.94 and a beta of 0.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The business’s fifty day moving average is $212.15 and its 200 day moving average is $224.70. STERIS has a 52 week low of $197.82 and a 52 week high of $248.24.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. STERIS’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. Research analysts anticipate that STERIS will post 9.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of the 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 sale, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On STERIS

A number of large investors have recently bought and sold shares of STE. AQR Capital Management LLC boosted its position in shares of STERIS by 29.1% during the 2nd quarter. AQR Capital Management LLC now owns 15,094 shares of the medical equipment provider’s stock worth $3,276,000 after acquiring an additional 3,398 shares in the last quarter. NewEdge Advisors LLC lifted its stake in STERIS by 22.9% during the second quarter. NewEdge Advisors LLC now owns 5,139 shares of the medical equipment provider’s stock worth $1,128,000 after purchasing an additional 956 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of STERIS by 7.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the medical equipment provider’s stock valued at $448,000 after purchasing an additional 144 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of STERIS by 8.2% in the 2nd quarter. Cetera Investment Advisers now owns 13,343 shares of the medical equipment provider’s stock valued at $2,930,000 after purchasing an additional 1,013 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of STERIS during the 2nd quarter worth $1,751,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

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.