Needham & Company LLC Reaffirms Hold Rating for STERIS (NYSE:STE)

STERIS (NYSE:STE)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports.

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

STERIS Trading Up 1.7 %

Shares of NYSE:STE opened at $219.19 on Friday. STERIS has a 52-week low of $195.47 and a 52-week high of $248.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.49 and a current ratio of 2.41. The company has a market capitalization of $21.62 billion, a P/E ratio of 50.04 and a beta of 0.85. The company has a 50-day simple moving average of $232.29 and a 200 day simple moving average of $227.79.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.11 by $0.03. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $2.03 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that STERIS will post 9.15 earnings per share for the current year.

Insider Activity

In related 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 owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Several hedge funds have recently bought and sold shares of STE. Ashton Thomas Securities LLC bought a new stake in shares of STERIS during the 3rd quarter worth approximately $25,000. J.Safra Asset Management Corp boosted its holdings in shares of STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS in the 3rd quarter valued at $28,000. Quent Capital LLC increased its stake in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of STERIS during the 1st quarter worth $36,000. 94.69% of the stock is owned by institutional investors.

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.