STERIS (NYSE:STE) Stock Price Expected to Rise, KeyCorp Analyst Says

STERIS (NYSE:STE - Get Free Report) had its price objective increased by analysts at KeyCorp from $277.00 to $288.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the medical equipment provider's stock. KeyCorp's price objective would indicate a potential upside of 26.72% from the stock's previous close.

A number of other research analysts have also weighed in on STE. Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Stephens reaffirmed an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Citigroup restated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $270.33.

STERIS Stock Up 0.8%

Shares of STE stock traded up $1.81 during mid-day trading on Tuesday, hitting $227.28. The stock had a trading volume of 376,548 shares, compared to its average volume of 654,806. STERIS has a 12-month low of $200.98 and a 12-month high of $252.79. The firm's 50-day moving average is $238.33 and its two-hundred day moving average is $226.96. The firm has a market capitalization of $22.36 billion, a P/E ratio of 36.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the company earned $2.58 earnings per share. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts predict that STERIS will post 9.08 earnings per share for the current fiscal year.

Insider Transactions at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the firm's stock in a transaction on 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 owned 11,372 shares of the company's stock, valued at $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the sale, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Institutional Investors Weigh In On STERIS

Large investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its stake in STERIS by 122.5% in the first quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock worth $642,000 after acquiring an additional 1,559 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of STERIS by 23.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after purchasing an additional 230 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 166 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of STERIS by 17.1% in the 1st quarter. Vontobel Holding Ltd. now owns 2,071 shares of the medical equipment provider's stock worth $469,000 after acquiring an additional 302 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of STERIS by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider's stock valued at $2,029,000 after purchasing an additional 431 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.