STERIS (NYSE:STE) Receives Buy (B) Rating from Weiss Ratings

Key Points

• STERIS has been given a "buy (B)" rating by Weiss Ratings, with additional positive assessments from other brokerages such as KeyCorp and Morgan Stanley, indicating a strong market outlook.
• The company's earnings report showed $2.34 EPS, surpassing expectations with a revenue increase of 8.8% year-over-year, indicating robust financial performance.
• Insider trading activity has seen notable sales, including CEO Daniel A. Carestio selling shares, but institutional investors continue to hold a significant 94.69% stake in the company.

STERIS (NYSE:STE - Get Free Report)'s stock had its "buy (b)" rating restated by stock analysts at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Several other brokerages also recently commented on STE. KeyCorp upped their price target on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. Finally, Morgan Stanley upped their price target on shares of STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and an average price target of $273.50.

STERIS Price Performance

Shares of STE traded up $1.05 during trading hours on Tuesday, reaching $236.53. 201,393 shares of the stock traded hands, compared to its average volume of 585,875. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. STERIS has a 52-week low of $200.98 and a 52-week high of $253.00. The company's 50-day moving average price is $244.47 and its two-hundred day moving average price is $236.06. The company has a market cap of $23.30 billion, a P/E ratio of 36.22 and a beta of 1.01.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. STERIS's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 EPS. On average, analysts anticipate that STERIS will post 9.08 earnings per share for the current year.

Insider Activity at STERIS

In related news, CEO Daniel A. Carestio sold 159 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the sale, the chief executive officer owned 51,096 shares of the company's stock, valued at $12,356,034.72. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mohsen Sohi sold 4,110 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the sale, the director directly owned 22,361 shares of the company's stock, valued at $5,410,467.56. The trade was a 15.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,868 shares of company stock valued at $4,585,389 over the last three months. Company insiders own 1.07% of the company's stock.

Institutional Trading of STERIS

Hedge funds and other institutional investors have recently made changes to their positions in the business. Spurstone Advisory Services LLC acquired a new stake in shares of STERIS in the second quarter worth $29,000. Geneos Wealth Management Inc. grew 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 buying an additional 104 shares during the period. Grove Bank & Trust grew its position in 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 period. Zions Bancorporation National Association UT acquired a new stake in STERIS during the first quarter valued at $37,000. Finally, ORG Wealth Partners LLC acquired a new stake in STERIS during the first quarter valued at $43,000. Institutional investors and hedge funds own 94.69% of the company's stock.

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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