Analysts Set STERIS plc (NYSE:STE) Price Target at $262.50

Shares of STERIS plc (NYSE:STE - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $262.50.

Several equities research analysts recently commented on STE shares. StockNews.com lowered STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research note on Friday, November 8th. Piper Sandler upgraded STERIS from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Stephens restated an "overweight" rating and set a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On STERIS

Institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in shares of STERIS during the 3rd quarter valued at approximately $25,000. Central Pacific Bank Trust Division purchased a new stake in STERIS in the third quarter worth $28,000. Brown Brothers Harriman & Co. raised its stake in shares of STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 116 shares during the period. Isthmus Partners LLC purchased a new position in shares of STERIS during the 2nd quarter valued at $44,000. Finally, Mascoma Wealth Management LLC purchased a new stake in STERIS in the 2nd quarter worth about $61,000. Institutional investors own 94.69% of the company's stock.

STERIS Price Performance

Shares of NYSE STE traded up $0.68 during midday trading on Tuesday, reaching $208.68. 156,355 shares of the company were exchanged, compared to its average volume of 503,902. STERIS has a one year low of $197.82 and a one year high of $248.24. The stock has a market cap of $20.60 billion, a P/E ratio of 47.64 and a beta of 0.83. 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 stock's 50-day moving average price is $218.52 and its 200-day moving average price is $226.48.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that STERIS will post 9.1 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th were paid a $0.57 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.09%. STERIS's payout ratio is 52.05%.

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.