STERIS (NYSE:STE) Sees Unusually-High Trading Volume - Time to Buy?

STERIS plc (NYSE:STE - Get Free Report) shares saw strong trading volume on Friday . 351,770 shares were traded during mid-day trading, a decline of 28% from the previous session's volume of 486,465 shares.The stock last traded at $216.99 and had previously closed at $215.50.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of analyst reports. KeyCorp upped 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. StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 29th. Stephens reaffirmed an "overweight" rating and set a $260.00 price target on shares of STERIS in a research note on Thursday. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Friday. Finally, Piper Sandler upgraded STERIS from a "neutral" rating to an "overweight" rating and raised their target price for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $253.00.

STERIS Price Performance

The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 50.04 and a beta of 0.85. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $232.29 and a two-hundred day moving average price of $227.79.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.11 by $0.03. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.91%. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.03 EPS. As a group, research analysts forecast that STERIS plc will post 9.02 EPS for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS's payout ratio is currently 52.05%.

Insider Transactions at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction 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 of the company's stock, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.14% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC lifted its stake in STERIS by 8.7% during the third quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider's stock valued at $407,000 after buying an additional 134 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in STERIS by 8.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider's stock worth $13,235,000 after purchasing an additional 4,494 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in STERIS by 3.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider's stock worth $23,909,000 after purchasing an additional 3,342 shares during the period. BDF Gestion purchased a new position in STERIS during the 2nd quarter worth approximately $2,644,000. Finally, Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 120,616 shares during the period. Institutional investors and hedge funds 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.