STERIS (NYSE:STE) Given “Market Outperform” Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of STERIS (NYSE:STE) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $265.00 price target on the medical equipment provider’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Stephens restated an “overweight” rating and issued a $240.00 target price on shares of STERIS in a research report on Thursday. Piper Sandler boosted their price target on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.75.

STERIS Trading Up 2.1 %

Shares of NYSE STE opened at $225.44 on Thursday. STERIS has a 12-month low of $197.82 and a 12-month high of $248.24. The company has a market cap of $22.25 billion, a price-to-earnings ratio of 51.47 and a beta of 0.84. 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 stock’s 50 day simple moving average is $212.33 and its 200 day simple moving average is $224.59.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a net margin of 8.02% and a return on equity of 13.78%. Equities research analysts expect that STERIS will post 9.11 EPS for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, February 20th. STERIS’s payout ratio is currently 52.05%.

Insider Activity

In related news, SVP Cary L. Majors sold 1,682 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.14% of the stock is owned by insiders.

Institutional Investors Weigh In On STERIS

A number of 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 worth $407,000 after purchasing an additional 134 shares during the last quarter. Franklin Resources Inc. boosted its holdings in STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after buying an additional 529,308 shares in the last quarter. Assetmark Inc. grew its position in STERIS by 24.6% in the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock worth $3,252,000 after buying an additional 2,647 shares during the last quarter. KBC Group NV increased its holdings in shares of STERIS by 52.0% in the third quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock valued at $2,928,000 after buying an additional 4,132 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of STERIS during the 3rd quarter valued at $9,949,000. 94.69% of the stock is 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.