Wall Street Zen Upgrades STERIS (NYSE:STE) to “Strong-Buy”

STERIS (NYSE:STE) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other brokerages have also issued reports on STE. Citigroup reissued an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. JMP Securities boosted their price target on STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Stephens reaffirmed an “overweight” rating and set a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. Jefferies Financial Group initiated coverage on STERIS in a research report on Thursday, May 29th. They set a “hold” rating and a $263.00 price target on the stock. Finally, Morgan Stanley boosted their price target on STERIS from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $263.83.

STERIS Stock Down 0.5%

Shares of STERIS stock opened at $241.16 on Friday. The business’s 50 day simple moving average is $232.76 and its 200 day simple moving average is $222.76. STERIS has a 52-week low of $200.98 and a 52-week high of $252.79. The firm has a market cap of $23.72 billion, a PE ratio of 51.20 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm earned $2.58 EPS. STERIS’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts predict that STERIS will post 9.08 earnings per share for the current fiscal year.

Insider Transactions at STERIS

In other news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the sale, the chief executive officer now directly owns 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.

Institutional Trading of STERIS

Several hedge funds and other institutional investors have recently bought and sold shares of STE. Geneos Wealth Management Inc. increased its holdings in shares of STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 104 shares during the period. Avalon Trust Co bought a new position in STERIS during the 4th quarter worth $30,000. Human Investing LLC bought a new position in STERIS during the 4th quarter worth $31,000. Grove Bank & Trust raised its holdings in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 142 shares in the last quarter. Finally, Anfield Capital Management LLC lifted its position in shares of STERIS by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 91 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.