STERIS (NYSE:STE) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of STERIS (NYSE:STE - Free Report) from an equal weight rating to an overweight rating in a research report released on Tuesday morning, MarketBeat reports. They currently have $276.00 target price on the medical equipment provider's stock, up from their prior target price of $260.00.

Other equities analysts have also recently issued research reports about the company. Stephens restated an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. JMP Securities lifted their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Citigroup restated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Finally, Jefferies Financial Group assumed coverage on shares of STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, STERIS has an average rating of "Moderate Buy" and a consensus target price of $266.50.

STERIS Trading Down 1.5%

Shares of NYSE:STE traded down $3.34 during trading on Tuesday, hitting $224.28. 1,076,141 shares of the company's stock were exchanged, compared to its average volume of 557,417. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The firm has a market cap of $22.06 billion, a P/E ratio of 36.17 and a beta of 0.92. The firm has a 50-day moving average price of $238.72 and a two-hundred day moving average price of $226.41. STERIS has a 1-year low of $200.98 and a 1-year high of $252.79.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the business earned $2.58 EPS. The business's quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that STERIS will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Tuesday, June 10th. STERIS's payout ratio is currently 36.77%.

Insider Activity at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of the firm's stock in a transaction on 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 sale, the chief executive officer directly owned 51,385 shares in the company, valued at $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction on 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 directly 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 corporate insiders.

Institutional Investors Weigh In On STERIS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Greenleaf Trust grew its stake in shares of STERIS by 9.6% during the 2nd quarter. Greenleaf Trust now owns 2,683 shares of the medical equipment provider's stock worth $645,000 after acquiring an additional 235 shares in the last quarter. GC Wealth Management RIA LLC acquired a new position in STERIS during the second quarter worth $249,000. V Square Quantitative Management LLC boosted its holdings in STERIS by 6.5% during the second quarter. V Square Quantitative Management LLC now owns 2,875 shares of the medical equipment provider's stock worth $691,000 after purchasing an additional 176 shares during the last quarter. Hengehold Capital Management LLC grew its position in STERIS by 15.0% in the second quarter. Hengehold Capital Management LLC now owns 2,617 shares of the medical equipment provider's stock valued at $629,000 after purchasing an additional 342 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its stake in STERIS by 106.2% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 3,746 shares of the medical equipment provider's stock valued at $900,000 after buying an additional 1,929 shares during the last quarter. 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.