Wall Street Zen cut shares of STERIS (NYSE:STE – Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.
Several other analysts also recently commented on the company. UBS Group initiated coverage on STERIS in a research note on Tuesday, July 28th. They issued a “buy” rating and a $275.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price target on shares of STERIS in a research note on Thursday, May 21st. KeyCorp cut their price target on STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings cut STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $277.25.
Get Our Latest Analysis on STE
STERIS Stock Up 1.8%
STERIS (NYSE:STE – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm posted $2.74 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, sell-side analysts forecast that STERIS will post 11.17 earnings per share for the current fiscal year.
STERIS Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.69 per share. This is an increase from STERIS’s previous quarterly dividend of $0.63. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 4th. STERIS’s dividend payout ratio is 31.78%.
Insider Transactions at STERIS
In related news, Director Richard C. Breeden sold 1,481 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total value of $310,284.31. Following the transaction, the director owned 38,964 shares of the company’s stock, valued at approximately $8,163,347.64. This trade represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel A. Carestio sold 1,374 shares of STERIS stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $212.00, for a total value of $291,288.00. Following the transaction, the chief executive officer owned 63,647 shares of the company’s stock, valued at $13,493,164. This trade represents a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,328 shares of company stock valued at $1,554,051 over the last three months. Corporate insiders own 1.12% of the company’s stock.
Institutional Trading of STERIS
Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in STERIS during the fourth quarter worth about $320,298,000. AQR Capital Management LLC increased its stake in STERIS by 178.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock valued at $291,704,000 after buying an additional 758,423 shares during the last quarter. Boston Partners purchased a new stake in STERIS in the 3rd quarter valued at about $158,982,000. Orbis Allan Gray Ltd lifted its position in shares of STERIS by 36.0% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock worth $504,486,000 after buying an additional 556,088 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of STERIS by 25.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock worth $411,995,000 after buying an additional 380,504 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.
About STERIS
STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.
Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.
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