STERIS plc (NYSE:STE) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• STERIS plc has received an average analysts' rating of "Moderate Buy", with two hold recommendations and six buy recommendations, and an average 12-month price target of $273.50.
• The company recently announced an increase in its quarterly dividend, raising it from $0.57 to $0.63 per share, reflecting ongoing confidence in financial performance.
• In the last 90 days, corporate insiders sold a total of 36,335 shares of the company stock valued at over $8.8 million, marking significant insider trading activity.

STERIS plc (NYSE:STE - Get Free Report) has received an average rating of "Moderate Buy" from the eight ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $273.50.

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. JMP Securities increased their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Stephens reiterated an "overweight" rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Jefferies Financial Group assumed coverage on STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 target price on the stock. Finally, Citigroup restated an "outperform" rating on shares of STERIS in a report on Friday, May 16th.

STERIS Stock Performance

Shares of STE stock traded up $0.84 during trading hours on Friday, hitting $242.67. The company's stock had a trading volume of 16,603 shares, compared to its average volume of 587,963. The company has a 50 day moving average of $236.22 and a 200 day moving average of $231.83. The stock has a market cap of $23.90 billion, a PE ratio of 37.06 and a beta of 0.95. 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 12-month low of $200.98 and a 12-month high of $252.79.

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

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. STERIS's dividend payout ratio (DPR) is 34.92%.

Insiders Place Their Bets

In related news, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the transaction, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $1,448,929.62. This represents a 56.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mohsen Sohi sold 4,110 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the completion of the transaction, the director owned 22,361 shares of the company's stock, valued at $5,410,467.56. The trade was a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,709 shares of company stock valued at $4,546,940. 1.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STERIS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spurstone Advisory Services LLC purchased a new position in STERIS in the 2nd quarter valued at approximately $29,000. Geneos Wealth Management Inc. lifted its position in shares of STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after buying an additional 104 shares during the last quarter. Grove Bank & Trust lifted its position in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of STERIS during the 1st quarter worth approximately $37,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of STERIS during the 1st quarter worth approximately $43,000. Hedge funds and other 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.