Steris PLC (STE) Receives Consensus Recommendation of “Buy” from Brokerages

Steris PLC (NYSE:STE) has been given an average rating of “Buy” by the seven research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $80.25.

Several brokerages have issued reports on STE. Zacks Investment Research downgraded shares of Steris from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James Financial reissued a “market perform” rating and set a $100.00 price target on shares of Steris in a research report on Wednesday, January 3rd. KeyCorp reissued a “buy” rating and set a $103.00 price target on shares of Steris in a research report on Thursday, February 8th. Finally, Northcoast Research set a $102.00 price target on shares of Steris and gave the stock a “buy” rating in a research report on Thursday, February 8th.

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Shares of NYSE:STE opened at $92.25 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.82 and a quick ratio of 2.22. Steris has a 52-week low of $69.12 and a 52-week high of $96.43. The company has a market capitalization of $7,880.69, a price-to-earnings ratio of 24.53 and a beta of 1.12.

Steris (NYSE:STE) last issued its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. Steris had a net margin of 9.42% and a return on equity of 11.57%. The company had revenue of $661.90 million during the quarter, compared to the consensus estimate of $663.17 million. During the same quarter last year, the company earned $0.98 earnings per share. Steris’s revenue for the quarter was up 2.3% on a year-over-year basis. analysts anticipate that Steris will post 4.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Steris’s previous quarterly dividend of $0.21. Steris’s dividend payout ratio (DPR) is presently 32.98%.

In other Steris news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of Steris stock in a transaction on Monday, March 12th. The shares were sold at an average price of $95.50, for a total value of $955,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Martin Steeves sold 58,953 shares of Steris stock in a transaction on Monday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $5,364,723.00. Following the completion of the transaction, the director now directly owns 9,362 shares of the company’s stock, valued at approximately $851,942. The disclosure for this sale can be found here. Insiders have sold 78,415 shares of company stock valued at $7,178,536 in the last three months. Corporate insiders own 2.55% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in Steris in the fourth quarter worth $101,000. Meeder Asset Management Inc. boosted its holdings in Steris by 1,122.4% in the fourth quarter. Meeder Asset Management Inc. now owns 1,198 shares of the medical equipment provider’s stock worth $104,000 after purchasing an additional 1,100 shares during the period. YorkBridge Wealth Partners LLC acquired a new position in Steris in the fourth quarter worth $113,000. Zions Bancorporation acquired a new position in Steris in the third quarter worth $178,000. Finally, Driehaus Capital Management LLC acquired a new position in Steris in the fourth quarter worth $241,000. 89.40% of the stock is owned by hedge funds and other institutional investors.

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About Steris

STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.

Analyst Recommendations for Steris (NYSE:STE)

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