$673.53 Million in Sales Expected for Steris PLC (STE) This Quarter

Brokerages expect Steris PLC (NYSE:STE) to announce $673.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Steris’ earnings, with the highest sales estimate coming in at $676.10 million and the lowest estimate coming in at $669.10 million. Steris reported sales of $638.76 million in the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The company is expected to issue its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Steris will report full year sales of $2.94 billion for the current financial year. For the next year, analysts forecast that the business will report sales of $3.10 billion, with estimates ranging from $3.09 billion to $3.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Steris.

Steris (NYSE:STE) last posted its quarterly earnings results on Monday, May 13th. The medical equipment provider reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.09. The business had revenue of $768.00 million for the quarter, compared to analyst estimates of $738.87 million. Steris had a net margin of 10.93% and a return on equity of 13.34%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS.



STE has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Steris from a “hold” rating to a “buy” rating and set a $146.00 price target on the stock in a research report on Tuesday, April 30th. Stephens reiterated a “buy” rating and set a $135.00 price target on shares of Steris in a research report on Thursday, February 14th. JMP Securities reiterated a “buy” rating and set a $135.00 price target on shares of Steris in a research report on Thursday, February 14th. Finally, KeyCorp increased their price target on shares of Steris from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $148.20.

Shares of NYSE STE traded up $0.31 during trading hours on Monday, hitting $135.11. 530,435 shares of the stock were exchanged, compared to its average volume of 433,624. The company has a current ratio of 2.27, a quick ratio of 1.82 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 27.63 and a beta of 1.06. Steris has a 1-year low of $99.14 and a 1-year high of $137.60.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 12th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, June 11th. This represents a $1.36 annualized dividend and a dividend yield of 1.01%. Steris’s dividend payout ratio is 27.81%.

In related news, CEO Walter M. Rosebrough, Jr. sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $125.00, for a total value of $6,250,000.00. Following the completion of the transaction, the chief executive officer now owns 98,895 shares of the company’s stock, valued at approximately $12,361,875. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jacqueline B. Kosecoff sold 3,609 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $132.22, for a total transaction of $477,181.98. The disclosure for this sale can be found here. Insiders have sold a total of 60,351 shares of company stock worth $7,592,622 in the last quarter. 2.38% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its stake in Steris by 10,585.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,572,743 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 3,539,306 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Steris by 26.0% during the fourth quarter. Advisory Services Network LLC now owns 427 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 88 shares during the last quarter. Executive Wealth Management LLC bought a new position in shares of Steris during the fourth quarter valued at $47,000. Pinebridge Investments L.P. bought a new position in shares of Steris during the first quarter valued at $50,000. Finally, Enlightenment Research LLC bought a new position in shares of Steris during the fourth quarter valued at $53,000. 82.81% of the stock is owned by institutional investors and hedge funds.

Steris Company Profile

STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.

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