Steris (NYSE:STE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, August 22nd.
According to Zacks, “A tough competitive landscape and currency headwinds continue to pose threats to STERIS. Moreover, customer consolidation is a concern for the company. However, STERIS exited first-quarter fiscal 2019 on a promising note. We are also encouraged by the favorable underlying market trends along with new product and service offerings. The company’s strong organic growth across Healthcare Products, Healthcare Specialty Services, Applied Sterilization Technologies and Life Sciences segments also buoys optimism. Further, growth in free cash flow reserve is indicative of the company’s cash balance strength. The company has also made certain divestments and organizational changes, which are expected to better suit its operations. Over the past three months, STERIS has been outperforming its industry.”
Several other analysts also recently commented on STE. Stephens reiterated a “buy” rating and issued a $125.00 price target on shares of Steris in a research report on Thursday, August 9th. KeyCorp upped their price target on shares of Steris from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Finally, JMP Securities upped their price objective on shares of Steris from $113.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $100.86.
STE stock traded up $2.15 on Wednesday, hitting $115.25. The company’s stock had a trading volume of 477,329 shares, compared to its average volume of 229,783. Steris has a 1 year low of $82.88 and a 1 year high of $117.48. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 27.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.65 and a quick ratio of 2.02.
Steris (NYSE:STE) last released its quarterly earnings results on Wednesday, August 8th. The medical equipment provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01. Steris had a net margin of 11.42% and a return on equity of 11.80%. The firm had revenue of $638.76 million during the quarter, compared to the consensus estimate of $638.63 million. During the same quarter in the prior year, the firm earned $0.85 EPS. Steris’s revenue for the quarter was up 5.1% on a year-over-year basis. analysts anticipate that Steris will post 4.71 earnings per share for the current year.
In other news, VP Karen L. Burton sold 1,300 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $114.39, for a total value of $148,707.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the stock in a transaction dated Friday, July 13th. The shares were sold at an average price of $110.50, for a total transaction of $1,105,000.00. The disclosure for this sale can be found here. 2.38% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new stake in Steris in the 1st quarter valued at about $114,441,000. Robeco Institutional Asset Management B.V. acquired a new stake in Steris in the 1st quarter valued at about $50,730,000. BlackRock Inc. grew its stake in Steris by 4.1% in the 1st quarter. BlackRock Inc. now owns 7,476,972 shares of the medical equipment provider’s stock valued at $698,051,000 after acquiring an additional 292,563 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Steris in the 2nd quarter valued at about $25,843,000. Finally, Fiera Capital Corp acquired a new stake in Steris in the 2nd quarter valued at about $25,099,000. Institutional investors and hedge funds own 88.80% of the company’s stock.
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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