STERIS (NYSE:STE) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Key Points

• STERIS beat quarterly estimates: It reported EPS of $2.94, $0.27 above consensus, and revenue of $1.59 billion versus analysts’ $1.56 billion estimate.
• Shares rose 7.5% on Wednesday, trading at $248.69.
• The company declared a quarterly dividend of $0.69 per share, equivalent to an annualized yield of 1.1%; analysts’ consensus rating is “Moderate Buy,” with a $271.33 price target.

STERIS (NYSE:STE - Get Free Report) released its quarterly earnings data on Wednesday. The medical equipment provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.27, FiscalAI reports. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion.

STERIS Stock Up 7.5%

STE stock traded up $17.34 during trading on Wednesday, reaching $248.69. The stock had a trading volume of 1,379,877 shares, compared to its average volume of 765,609. STERIS has a 1-year low of $195.14 and a 1-year high of $269.44. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $24.25 billion, a P/E ratio of 30.40 and a beta of 0.86. The firm has a fifty day moving average price of $219.59 and a 200 day moving average price of $224.91.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Tuesday, November 17th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.76 annualized dividend and a yield of 1.1%. STERIS's payout ratio is 33.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STE. Piper Sandler reissued an "overweight" rating and issued a $275.00 price objective (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of STERIS in a report on Monday, August 24th. Wall Street Zen cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Finally, UBS Group lowered their price target on STERIS from $275.00 to $270.00 and set a "buy" rating for the company in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, STERIS has a consensus rating of "Moderate Buy" and a consensus target price of $271.33.

Insider Activity at STERIS

In related news, Director Mohsen Sohi sold 4,058 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the transaction, the director owned 24,305 shares of the company's stock, valued at approximately $5,730,632.90. This represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.12% 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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