STERIS (NYSE:STE) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of STERIS (NYSE:STE - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Other research analysts have also recently issued reports about the stock. Citigroup restated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Piper Sandler upped their target price on shares of STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Stephens reissued an "overweight" rating and issued a $250.00 price target on shares of STERIS in a report on Thursday, May 15th. JMP Securities increased their price target 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. Finally, Jefferies Financial Group initiated coverage on shares of STERIS in a report on Thursday. They issued a "hold" rating and a $263.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.83.

STERIS Trading Up 0.0%

NYSE STE traded up $0.09 during mid-day trading on Friday, reaching $245.09. 1,044,282 shares of the stock were exchanged, compared to its average volume of 546,540. STERIS has a one year low of $200.98 and a one year high of $252.79. The stock has a 50 day simple moving average of $228.42 and a 200-day simple moving average of $220.91. The stock has a market cap of $24.08 billion, a P/E ratio of 52.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40.

STERIS (NYSE:STE - Get Free Report) last announced 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 8.66% and a return on equity of 13.91%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $2.58 earnings per share. STERIS's quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts anticipate that STERIS will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.93%. STERIS's dividend payout ratio (DPR) is 36.77%.

Insider Activity

In other news, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the sale, the senior vice president now owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On STERIS

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in STERIS during the 1st quarter valued at $12,466,000. Foresight Group Ltd Liability Partnership purchased a new stake in STERIS during the 1st quarter valued at $25,958,000. Geneos Wealth Management Inc. boosted its position in STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 104 shares during the period. Focus Partners Wealth boosted its position in STERIS by 3.9% during the 1st quarter. Focus Partners Wealth now owns 8,751 shares of the medical equipment provider's stock valued at $1,984,000 after buying an additional 329 shares during the period. Finally, Jane Street Group LLC boosted its position in STERIS by 38.9% during the 1st quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider's stock valued at $4,695,000 after buying an additional 5,803 shares during the period. Hedge funds and other institutional investors 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.