FY2027 Earnings Forecast for STERIS Issued By Zacks Research

Key Points

• Zacks Research has lowered STERIS's FY2027 EPS estimate from $11.13 to $10.95, while the current consensus estimate stands at $9.08 per share.
• STERIS reported quarterly earnings of $2.34 per share, exceeding expectations, and demonstrated a revenue increase of 8.8% year-over-year, totaling $1.40 billion.
• The company increased its quarterly dividend to $0.63 per share, showing a rise from the previous $0.57, with an annualized dividend yield of 1.1%.

STERIS plc (NYSE:STE - Free Report) - Stock analysts at Zacks Research reduced their FY2027 earnings estimates for shares of STERIS in a research note issued on Tuesday, August 5th. Zacks Research analyst R. Department now expects that the medical equipment provider will earn $10.95 per share for the year, down from their prior estimate of $11.13. The consensus estimate for STERIS's current full-year earnings is $9.08 per share. Zacks Research also issued estimates for STERIS's FY2028 earnings at $12.18 EPS.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.03 EPS.

Several other brokerages have also weighed in on STE. JMP Securities increased their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Morgan Stanley upgraded shares of STERIS from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $260.00 to $276.00 in a report on Tuesday, July 15th. KeyCorp increased their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Stephens reiterated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $270.33.

STERIS Trading Up 2.9%

Shares of STE stock traded up $6.83 during trading hours on Thursday, hitting $243.07. 863,791 shares of the company were exchanged, compared to its average volume of 722,235. The firm has a market cap of $23.91 billion, a PE ratio of 37.22 and a beta of 0.92. STERIS has a 1 year low of $200.98 and a 1 year high of $252.79. The company has a quick ratio of 1.39, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average of $234.13 and a 200 day moving average of $228.73.

Institutional Investors Weigh In On STERIS

Several institutional investors have recently bought and sold shares of the stock. Allworth Financial LP lifted its holdings in STERIS by 7.3% in the second quarter. Allworth Financial LP now owns 661 shares of the medical equipment provider's stock worth $159,000 after purchasing an additional 45 shares during the period. Park Edge Advisors LLC raised its position in STERIS by 1.0% in the first quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock worth $1,067,000 after acquiring an additional 47 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in STERIS by 3.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider's stock worth $365,000 after acquiring an additional 54 shares in the last quarter. Blue Trust Inc. raised its position in STERIS by 16.5% in the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock worth $90,000 after acquiring an additional 56 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC raised its position in STERIS by 1.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock worth $1,423,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Buying and Selling at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the sale, the chief executive officer owned 51,385 shares of the company's stock, valued at $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president directly owned 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company's stock.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. This is a positive change from STERIS's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, September 4th. STERIS's dividend payout ratio is presently 34.92%.

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.