STERIS (NYSE:STE) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

STERIS (NYSE:STE) posted its quarterly earnings results on Wednesday. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.03, Briefing.com reports. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.03 EPS. STERIS updated its FY25 guidance to $9.05-$9.25 EPS and its FY 2025 guidance to 9.050-9.250 EPS.

STERIS Stock Performance

Shares of STE stock traded down $13.42 on Thursday, reaching $214.10. The stock had a trading volume of 708,413 shares, compared to its average volume of 485,029. The stock has a market cap of $21.11 billion, a P/E ratio of 52.93 and a beta of 0.85. STERIS has a 1 year low of $195.47 and a 1 year high of $248.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. The company has a 50 day simple moving average of $233.17 and a 200 day simple moving average of $227.60.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.06%. STERIS’s dividend payout ratio (DPR) is currently 56.58%.

Analysts Set New Price Targets

Several analysts recently weighed in on STE shares. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Stephens reiterated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $253.00.

Insider Transactions at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.14% 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.