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

STERIS (NYSE:STE - Get Free Report) had its price objective boosted by equities researchers at KeyCorp from $277.00 to $288.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical equipment provider's stock. KeyCorp's target price suggests a potential upside of 27.60% from the stock's current price.

Several other equities research analysts also recently weighed in on the stock. JMP Securities upped 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. Stephens reissued an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Citigroup restated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Finally, Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, STERIS currently has a consensus rating of "Moderate Buy" and an average price target of $270.33.

STERIS Stock Up 0.9%

Shares of STE stock traded up $2.02 during mid-day trading on Tuesday, reaching $225.71. 535,245 shares of the company were exchanged, compared to its average volume of 567,171. STERIS has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The company has a market capitalization of $22.20 billion, a P/E ratio of 36.41 and a beta of 0.92. The business's 50 day simple moving average is $238.33 and its 200 day simple moving average is $226.96.

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

Insiders Place Their Bets

In related news, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 approximately $12,463,945.60. The trade was a 25.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Cary L. Majors sold 12,828 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the transaction, the senior vice president owned 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STE. Geneos Wealth Management Inc. increased its holdings in shares of STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after buying an additional 104 shares in the last quarter. Grove Bank & Trust raised its position in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 142 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in STERIS during the 1st quarter worth $37,000. ORG Wealth Partners LLC bought a new position in STERIS in the 1st quarter valued at $43,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 88 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Company Profile

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.