KeyCorp Boosts STERIS (NYSE:STE) Price Target to $288.00

STERIS (NYSE:STE - Get Free Report) had its target price boosted by analysts at KeyCorp from $277.00 to $288.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the medical equipment provider's stock. KeyCorp's price objective points to a potential upside of 28.61% from the stock's current price.

A number of other research firms also recently weighed in on STE. Morgan Stanley upgraded STERIS from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $260.00 to $276.00 in a research report on Tuesday, July 15th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research report on Monday, April 7th. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Stephens restated an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Finally, Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $270.33.

STERIS Stock Up 0.6%

STERIS stock traded up $1.28 during trading on Tuesday, hitting $223.93. 345,905 shares of the company were exchanged, compared to its average volume of 563,948. The business's 50 day moving average is $238.49 and its 200 day moving average is $226.99. STERIS has a 52 week low of $200.98 and a 52 week high of $252.79. The company has a market capitalization of $22.03 billion, a P/E ratio of 36.11 and a beta of 0.92. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29.

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

Insiders Place Their Bets

In other news, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 51,385 shares in the company, valued at $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Cary L. Majors sold 12,828 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the transaction, the senior vice president owned 11,372 shares of the company's stock, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STERIS

Large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its position in STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Grove Bank & Trust grew its stake in shares of STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after buying an additional 142 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of STERIS during the first quarter valued at approximately $37,000. ORG Wealth Partners LLC bought a new position in shares of STERIS during the first quarter valued at approximately $43,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of STERIS by 66.7% during the fourth 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 last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

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.

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