STERIS plc (NYSE:STE) Receives Average Rating of "Moderate Buy" from Brokerages

STERIS plc (NYSE:STE - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $264.00.

A number of brokerages recently weighed in on STE. Morgan Stanley raised their price target on shares of STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday. Stephens restated an "overweight" rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Piper Sandler raised their price target on STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th.

STERIS Stock Down 1.1%

STERIS stock opened at $243.61 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The firm has a fifty day moving average price of $225.95 and a two-hundred day moving average price of $220.00. The firm has a market cap of $23.93 billion, a price-to-earnings ratio of 51.72 and a beta of 0.96. STERIS has a fifty-two week low of $200.98 and a fifty-two week high of $252.79.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm earned $2.58 EPS. STERIS's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts forecast that STERIS will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders 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 yield of 0.94%. STERIS's payout ratio is 36.77%.

Institutional Investors Weigh In On STERIS

A number of hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in STERIS by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock valued at $2,275,000 after buying an additional 2,583 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of STERIS during the fourth quarter worth about $260,000. Blue Trust Inc. grew its holdings in shares of STERIS by 19.9% during the fourth quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider's stock worth $232,000 after buying an additional 187 shares in the last quarter. Entropy Technologies LP acquired a new stake in STERIS in the 4th quarter valued at approximately $924,000. Finally, Park Avenue Securities LLC raised its position in STERIS by 5.6% in the 4th quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider's stock valued at $487,000 after buying an additional 126 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.

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