STERIS (NYSE:STE) Price Target Raised to $284.00

Key Points

• KeyCorp raised its STERIS price target from $269 to $284 and maintained an “overweight” rating, implying about 13.4% upside from the current share price.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $276.33.
• STERIS beat quarterly expectations, reporting EPS of $2.94 versus $2.68 expected and revenue of $1.59 billion versus $1.56 billion; revenue rose 8.8% year over year.

STERIS (NYSE:STE - Get Free Report) had its price objective lifted by research analysts at KeyCorp from $269.00 to $284.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the medical equipment provider's stock. KeyCorp's price target would suggest a potential upside of 13.39% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler restated an "overweight" rating and set a $275.00 target price (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of STERIS in a research report on Monday, August 24th. Finally, UBS Group cut their target price on shares of STERIS from $275.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.33.

STERIS Stock Performance

Shares of STERIS stock opened at $250.45 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.35. The firm has a market cap of $24.42 billion, a P/E ratio of 29.71 and a beta of 0.86. The firm has a 50 day simple moving average of $220.19 and a 200 day simple moving average of $224.74. STERIS has a fifty-two week low of $195.14 and a fifty-two week high of $269.44.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.26. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. STERIS had a return on equity of 14.84% and a net margin of 13.41%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.47 EPS. Sell-side analysts predict that STERIS will post 11.17 earnings per share for the current fiscal year.

Insider Transactions at STERIS

In other STERIS news, Director Mohsen Sohi sold 4,058 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total transaction of $956,795.24. Following the transaction, the director owned 24,305 shares in the company, valued at approximately $5,730,632.90. This trade represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.12% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in STERIS by 21.9% during the second quarter. Wellington Management Group LLP now owns 3,502,897 shares of the medical equipment provider's stock valued at $737,605,000 after purchasing an additional 629,532 shares during the last quarter. Janus Henderson Group PLC grew its stake in STERIS by 25.7% in the first quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider's stock valued at $411,995,000 after purchasing an additional 380,504 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of STERIS by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,113,845 shares of the medical equipment provider's stock worth $246,295,000 after purchasing an additional 46,391 shares during the last quarter. Bessemer Group Inc. increased its position in shares of STERIS by 8.8% during the 1st quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider's stock worth $231,883,000 after purchasing an additional 85,188 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of STERIS by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 890,562 shares of the medical equipment provider's stock worth $196,931,000 after purchasing an additional 9,226 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

STERIS Company Profile

STERIS plc NYSE: STE provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.

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