Steris (NYSE:STE) Cut to “Hold” at ValuEngine

ValuEngine lowered shares of Steris (NYSE:STE) from a buy rating to a hold rating in a report issued on Wednesday, ValuEngine reports.

NYSE:STE traded up $1.45 during trading hours on Wednesday, reaching $142.66. The company had a trading volume of 324,715 shares, compared to its average volume of 483,616. Steris has a 1-year low of $99.14 and a 1-year high of $156.66. The firm has a market cap of $12.08 billion, a PE ratio of 29.17 and a beta of 0.91. The business’s 50 day moving average price is $148.30 and its 200-day moving average price is $140.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.41 and a quick ratio of 1.87.

Steris (NYSE:STE) last announced its earnings results on Monday, August 5th. The medical equipment provider reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.12. The business had revenue of $696.80 million during the quarter, compared to the consensus estimate of $674.12 million. Steris had a return on equity of 13.80% and a net margin of 11.22%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. On average, analysts expect that Steris will post 5.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 10th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.04%. This is a boost from Steris’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, September 9th. Steris’s payout ratio is presently 30.27%.

In related news, VP Cary L. Majors sold 5,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $152.67, for a total transaction of $801,517.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 102,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $151.78, for a total value of $15,557,450.00. The disclosure for this sale can be found here. Insiders have sold 116,815 shares of company stock valued at $17,720,112 over the last quarter. 2.36% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Hawaiian Bank increased its position in shares of Steris by 43.0% during the third quarter. First Hawaiian Bank now owns 2,478 shares of the medical equipment provider’s stock worth $358,000 after purchasing an additional 745 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Steris by 205.8% during the third quarter. State of Alaska Department of Revenue now owns 52,204 shares of the medical equipment provider’s stock worth $7,542,000 after purchasing an additional 35,135 shares in the last quarter. Orrstown Financial Services Inc. purchased a new stake in shares of Steris during the third quarter worth approximately $33,000. Parallax Volatility Advisers L.P. increased its position in shares of Steris by 85.9% during the second quarter. Parallax Volatility Advisers L.P. now owns 16,819 shares of the medical equipment provider’s stock worth $2,504,000 after purchasing an additional 7,774 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Steris during the second quarter worth approximately $5,592,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

About Steris

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.

Featured Article: Analyst Ratings Trading

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Steris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steris and related companies with MarketBeat.com's FREE daily email newsletter.