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

JMP Securities reissued their market outperform rating on shares of STERIS (NYSE:STE - Free Report) in a research report released on Monday morning,Benzinga reports. The firm currently has a $265.00 target price on the medical equipment provider's stock.

A number of other equities analysts have also commented on the company. KeyCorp raised their price target on STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Stephens reaffirmed an "overweight" rating and set a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. 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 report on Thursday, October 24th. StockNews.com cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

STERIS Stock Down 1.4 %

Shares of NYSE STE traded down $3.08 during midday trading on Monday, hitting $217.04. 599,428 shares of the stock traded hands, compared to its average volume of 493,166. STERIS has a one year low of $195.47 and a one year high of $248.24. The company has a market cap of $21.42 billion, a PE ratio of 50.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The business has a 50 day moving average price of $230.37 and a two-hundred day moving average price of $228.59.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. STERIS's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $2.03 earnings per share. On average, equities analysts predict that STERIS will post 9.15 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.05%. STERIS's dividend payout ratio (DPR) is presently 52.05%.

Insider Activity at STERIS

In related 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 transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.14% of the stock is owned by insiders.

Institutional Trading of STERIS

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of STERIS by 13.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider's stock worth $1,414,453,000 after acquiring an additional 778,613 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of STERIS by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider's stock worth $556,786,000 after purchasing an additional 17,007 shares during the period. Price T Rowe Associates Inc. MD boosted its position in STERIS by 7.5% during 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 acquiring an additional 120,616 shares in the last quarter. Impax Asset Management Group plc raised its holdings in STERIS by 29.7% in the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider's stock worth $251,663,000 after purchasing an additional 263,383 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of STERIS by 9.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider's stock worth $270,230,000 after acquiring an additional 96,336 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

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.