NYSE:STE - Get Free Report ) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $210.09, but opened at $222.99. STERIS shares last traded at $221.41, with a volume of 63,780 shares changing hands.
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The medical equipment provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.17. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period last year, the company posted $2.30 EPS. The company's revenue was up 10.8% on a year-over-year basis.
STERIS Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.92%. STERIS's dividend payout ratio is currently 36.43%.
Analyst Upgrades and Downgrades STE has been the subject of several analyst reports. JMP Securities reissued a "market outperform" rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Friday, April 12th. StockNews.com lowered STERIS from a "buy" rating to a "hold" rating in a research note on Friday, May 3rd. Stephens reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research report on Friday, February 9th. Finally, KeyCorp assumed coverage on STERIS in a research note on Tuesday, February 6th. They issued an "overweight" rating and a $253.00 target price for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $239.60.
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Institutional Inflows and Outflows A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STE. Vanguard Group Inc. lifted its stake in shares of STERIS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider's stock valued at $2,608,434,000 after purchasing an additional 53,526 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in STERIS by 1.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,811,818 shares of the medical equipment provider's stock valued at $1,277,728,000 after buying an additional 77,152 shares during the period. Sustainable Growth Advisers LP lifted its position in STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider's stock valued at $333,988,000 after buying an additional 282,387 shares in the last quarter. Northern Trust Corp grew its stake in STERIS by 0.5% during the third quarter. Northern Trust Corp now owns 1,218,012 shares of the medical equipment provider's stock worth $267,256,000 after buying an additional 6,101 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of STERIS by 3.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,009,157 shares of the medical equipment provider's stock worth $226,879,000 after acquiring an additional 32,755 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.
STERIS Stock Up 7.6 % The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49. The company has a market cap of $22.34 billion, a price-to-earnings ratio of 39.59 and a beta of 0.81. The firm's 50-day moving average price is $217.02 and its 200-day moving average price is $216.04.
STERIS Company Profile (
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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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