STERIS (NYSE:STE) Price Target Raised to $265.00 at Piper Sandler

STERIS (NYSE:STE - Free Report) had its price target increased by Piper Sandler from $260.00 to $265.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the medical equipment provider's stock.

A number of other research firms also recently weighed in on STE. StockNews.com downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Stephens reiterated an "overweight" rating and issued a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. JMP Securities reiterated a "market outperform" rating and issued a $265.00 target price on shares of STERIS in a report on Monday, November 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of STERIS in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, STERIS has an average rating of "Moderate Buy" and an average target price of $258.75.

STERIS Stock Performance

NYSE STE traded up $3.31 on Monday, hitting $224.14. The stock had a trading volume of 947,670 shares, compared to its average volume of 494,740. The company's 50-day moving average is $212.33 and its two-hundred day moving average is $224.59. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 51.22 and a beta of 0.84. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. STERIS has a one year low of $197.82 and a one year high of $248.24.

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

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS's dividend payout ratio is 52.05%.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.14% of the company's stock.

Institutional Investors Weigh In On STERIS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of STERIS by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider's stock worth $556,786,000 after acquiring an additional 17,007 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of STERIS by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,119,643 shares of the medical equipment provider's stock worth $230,160,000 after purchasing an additional 5,419 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock valued at $191,370,000 after buying an additional 529,308 shares during the last quarter. Raymond James & Associates grew its stake in shares of STERIS by 1.5% in the 3rd quarter. Raymond James & Associates now owns 801,144 shares of the medical equipment provider's stock valued at $194,309,000 after buying an additional 12,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in STERIS by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 569,837 shares of the medical equipment provider's stock worth $117,136,000 after buying an additional 18,384 shares during the last quarter. Hedge funds and other institutional investors own 94.69% 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.