STERIS (NYSE:STE) Downgraded to Buy Rating by Wall Street Zen

STERIS (NYSE:STE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Friday.

Several other brokerages have also issued reports on STE. Jefferies Financial Group began coverage on shares of STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Citigroup reissued an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Stephens reiterated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Finally, JMP Securities increased their price target on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, STERIS has a consensus rating of "Moderate Buy" and an average target price of $266.50.

STERIS Stock Up 0.4%

Shares of STE stock traded up $0.82 during trading hours on Friday, hitting $225.41. 1,721,770 shares of the company's stock traded hands, compared to its average volume of 564,453. STERIS has a 12-month low of $200.98 and a 12-month high of $252.79. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 36.36 and a beta of 0.92. The stock's fifty day simple moving average is $238.70 and its two-hundred day simple moving average is $226.70. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS 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 net margin of 11.26% and a return on equity of 14.21%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. On average, analysts expect that STERIS will post 9.08 EPS for the current year.

Insider Activity at STERIS

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the firm'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 transaction, the chief executive officer owned 51,385 shares of the company's stock, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president owned 11,372 shares of the company's stock, valued at approximately $2,843,909.76. The trade was a 53.01% 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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its position in shares of STERIS by 26.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 5,473 shares of the medical equipment provider's stock valued at $1,315,000 after purchasing an additional 1,158 shares during the period. Truist Financial Corp increased its position in shares of STERIS by 116.2% in the second quarter. Truist Financial Corp now owns 31,064 shares of the medical equipment provider's stock worth $7,462,000 after purchasing an additional 16,694 shares during the period. Greenleaf Trust boosted its stake in STERIS by 9.6% in the second quarter. Greenleaf Trust now owns 2,683 shares of the medical equipment provider's stock valued at $645,000 after buying an additional 235 shares in the last quarter. GC Wealth Management RIA LLC bought a new position in shares of STERIS during the second quarter worth about $249,000. Finally, V Square Quantitative Management LLC lifted its stake in STERIS by 6.5% in the second quarter. V Square Quantitative Management LLC now owns 2,875 shares of the medical equipment provider's stock valued at $691,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

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.