STERIS (NYSE:STE) Rating Lowered to Hold at StockNews.com

STERIS (NYSE:STE - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

A number of other equities research analysts also recently issued reports on the stock. JMP Securities reissued a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, February 8th. TheStreet upgraded STERIS from a "c+" rating to a "b" rating in a research report on Wednesday, February 7th. KeyCorp initiated coverage on STERIS in a research note on Tuesday, February 6th. They set an "overweight" rating and a $253.00 price objective for the company. Stephens reissued an "overweight" rating and issued a $250.00 target price on shares of STERIS in a report on Friday, February 9th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, STERIS currently has an average rating of "Hold" and an average price target of $239.60.

STERIS Stock Performance

NYSE:STE traded up $1.58 during trading hours on Friday, reaching $207.82. The company had a trading volume of 492,942 shares, compared to its average volume of 458,665. The firm's 50 day moving average price is $218.46 and its 200-day moving average price is $216.18. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of 36.40 and a beta of 0.81. The company has a current ratio of 2.43, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50. STERIS has a 52 week low of $185.22 and a 52 week high of $254.00.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.05. STERIS had a return on equity of 13.67% and a net margin of 10.48%. The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the firm posted $2.02 earnings per share. The business's revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts forecast that STERIS will post 8.67 EPS for the current year.

Institutional Trading of STERIS

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp increased its holdings in shares of STERIS by 9.7% in the third quarter. Fifth Third Bancorp now owns 3,041 shares of the medical equipment provider's stock worth $667,000 after purchasing an additional 268 shares during the last quarter. Fenimore Asset Management Inc. increased its stake in STERIS by 13.1% in the 4th quarter. Fenimore Asset Management Inc. now owns 210,747 shares of the medical equipment provider's stock worth $46,333,000 after acquiring an additional 24,377 shares during the last quarter. Cullen Investment Group LTD. purchased a new stake in shares of STERIS during the 4th quarter worth approximately $1,351,000. Cerity Partners LLC boosted its position in shares of STERIS by 5,199.4% during the 4th quarter. Cerity Partners LLC now owns 65,925 shares of the medical equipment provider's stock valued at $14,494,000 after acquiring an additional 64,681 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. grew its holdings in shares of STERIS by 12.9% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 45,095 shares of the medical equipment provider's stock valued at $9,914,000 after purchasing an additional 5,168 shares in the last quarter. 94.69% of the stock is currently owned by 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.

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