STERIS (NYSE:STE) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded STERIS from “buy” to “strong-buy.” Other analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $283.50.
• STERIS beat quarterly expectations, reporting EPS of $2.94 versus $2.68 expected and revenue of $1.59 billion versus $1.56 billion expected. Revenue increased 8.8% year over year.
• Shares opened at $263.76, near the reported 52-week high of $269.44. The article also reported stock sales by the CFO and a director.

STERIS (NYSE:STE - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reissued an "overweight" rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. KeyCorp upped their price objective on STERIS from $269.00 to $284.00 and gave the company an "overweight" rating in a research report on Friday, November 6th. UBS Group lowered their price objective on STERIS from $275.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Jefferies Financial Group upgraded STERIS from a "hold" rating to a "buy" rating and increased their target price for the company from $232.00 to $305.00 in a research note on Friday. Finally, Morgan Stanley raised STERIS from an "overweight" rating to a "buy" rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.50.

STERIS Stock Performance

Shares of STE stock opened at $263.76 on Friday. STERIS has a one year low of $195.14 and a one year high of $269.44. The company's 50-day moving average is $223.28 and its 200 day moving average is $224.61. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of 23.27 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.44 and a current ratio of 2.05.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results 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 business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.56 billion. STERIS had a net margin of 13.41% and a return on equity of 14.80%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. Sell-side analysts expect that STERIS will post 11.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Karen Burton sold 5,880 shares of the business's stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $255.62, for a total transaction of $1,503,045.60. Following the completion of the transaction, the chief financial officer directly owned 12,956 shares of the company's stock, valued at $3,311,812.72. The trade was a 31.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mohsen Sohi sold 4,893 shares of the business's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $253.22, for a total transaction of $1,239,005.46. Following the transaction, the director directly owned 24,305 shares of the company's stock, valued at $6,154,512.10. The trade was a 16.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.12% of the company's stock.

Institutional Investors Weigh In On STERIS

A number of hedge funds have recently added to or reduced their stakes in STE. Western Wealth Management LLC purchased a new position in shares of STERIS in the 1st quarter worth $25,000. Compass Financial Management LLC purchased a new stake in STERIS during the third quarter valued at $25,000. Elevation Wealth Partners LLC increased its position in STERIS by 1,130.0% during the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 113 shares during the last quarter. Trust Co. of Vermont bought a new position in STERIS in the second quarter valued at about $41,000. Finally, Community Financial Services Group LLC lifted its holdings in STERIS by 50.0% in the third quarter. Community Financial Services Group LLC now owns 216 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 72 shares during the period. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

About STERIS

STERIS plc NYSE: STE provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures. The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.

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