STERIS (NYSE:STE) Earns Market Outperform Rating from JMP Securities

STERIS (NYSE:STE)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $265.00 price objective on the medical equipment provider’s stock. JMP Securities’ price target would suggest a potential upside of 20.38% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. KeyCorp boosted their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Price Performance

STE traded up $0.02 during trading on Monday, reaching $220.14. The company’s stock had a trading volume of 192,570 shares, compared to its average volume of 491,269. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $230.37 and a two-hundred day simple moving average of $228.59. The company has a market cap of $21.73 billion, a price-to-earnings ratio of 50.20 and a beta of 0.85. STERIS has a 1 year low of $195.47 and a 1 year high of $248.24.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that STERIS will post 9.15 EPS for the current year.

Insider Activity at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.14% of the stock is owned by corporate insiders.

Institutional Trading of STERIS

Several institutional investors and hedge funds have recently bought and sold shares of STE. Bleakley Financial Group LLC grew its stake in shares of STERIS by 8.7% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock valued at $407,000 after purchasing an additional 134 shares during the last quarter. Assetmark Inc. increased its stake in STERIS by 24.6% in the 3rd quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock valued at $3,252,000 after buying an additional 2,647 shares during the period. BDF Gestion purchased a new position in STERIS during the 2nd quarter worth $2,644,000. Price T Rowe Associates Inc. MD boosted its holdings in STERIS by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after purchasing an additional 120,616 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in shares of STERIS by 11.0% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 60,302 shares of the medical equipment provider’s stock valued at $13,727,000 after buying an additional 5,999 shares during the period. Hedge funds and other institutional investors 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.