STERIS (NYSE:STE) PT Raised to $265.00 at KeyCorp

STERIS (NYSE:STE) had its target price lifted by KeyCorp from $255.00 to $265.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

STE has been the topic of several other research reports. Stephens reiterated an overweight rating and set a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. JMP Securities reiterated a market outperform rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. StockNews.com upgraded shares of STERIS from a hold rating to a buy rating in a research report on Tuesday, August 13th. Piper Sandler reiterated a neutral rating and set a $225.00 price target (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. Finally, Needham & Company LLC reiterated a hold rating on shares of STERIS in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, STERIS currently has an average rating of Moderate Buy and an average target price of $246.00.

STERIS Stock Performance

Shares of NYSE:STE opened at $239.83 on Tuesday. The company’s 50 day moving average price is $230.92 and its two-hundred day moving average price is $224.83. STERIS has a 12-month low of $195.47 and a 12-month high of $245.81. The firm has a market cap of $23.71 billion, a PE ratio of 62.78 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $2.00 EPS. The business’s revenue was down .4% compared to the same quarter last year. Equities research analysts predict that STERIS will post 9.15 earnings per share for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be given a $0.57 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio (DPR) is currently 59.69%.

Insider Buying and Selling at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Several large investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in shares of STERIS during the second quarter valued at $1,751,000. Cetera Investment Advisers raised its stake in STERIS by 8.2% during the second quarter. Cetera Investment Advisers now owns 13,343 shares of the medical equipment provider’s stock worth $2,930,000 after buying an additional 1,013 shares during the last quarter. Kimelman & Baird LLC bought a new position in STERIS during the second quarter worth $6,456,000. Northwestern Mutual Wealth Management Co. raised its stake in STERIS by 7.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the medical equipment provider’s stock worth $448,000 after buying an additional 144 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in STERIS by 22.9% in the second quarter. NewEdge Advisors LLC now owns 5,139 shares of the medical equipment provider’s stock valued at $1,128,000 after purchasing an additional 956 shares in the last quarter. Institutional investors 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.