Wall Street Zen Upgrades STERIS (NYSE:STE) to Strong-Buy

Key Points

• STERIS has been upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating.
• The company recently reported earnings of $2.34 per share, exceeding expectations and reflecting an 8.8% increase in revenue compared to the previous year.
• Institutional investors own 94.69% of STERIS stock, with several firms increasing their positions significantly in recent quarters.

STERIS (NYSE:STE - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

A number of other analysts have also recently weighed in on STE. JMP Securities boosted 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. KeyCorp boosted their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Citigroup restated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Morgan Stanley upgraded shares of STERIS from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $260.00 to $276.00 in a research note on Tuesday, July 15th. Finally, Stephens reiterated an "overweight" rating and set a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $273.50.

STERIS Stock Up 0.6%

STE traded up $1.38 on Friday, reaching $243.00. 189,375 shares of the company traded hands, compared to its average volume of 604,115. The stock's 50 day moving average price is $234.13 and its 200-day moving average price is $228.99. STERIS has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a market cap of $23.90 billion, a price-to-earnings ratio of 37.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53.

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

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the business'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 sale, the senior vice president owned 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the business'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 completion of 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 position. The disclosure for this sale can be found here. Insiders own 1.07% of the company's stock.

Institutional Investors Weigh In On STERIS

Large investors have recently made changes to their positions in the company. Spurstone Advisory Services LLC bought a new stake in shares of STERIS in the 2nd quarter worth about $29,000. Geneos Wealth Management Inc. grew its holdings in shares of STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 142 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of STERIS in the 1st quarter worth about $37,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of STERIS in the 1st quarter worth about $43,000. Institutional investors 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.