STERIS (NYSE:STE) Price Target Raised to $284.00

STERIS (NYSE:STE) had its target price hoisted by KeyCorp from $269.00 to $284.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp‘s price target points to a potential upside of 13.39% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. UBS Group reduced their price target on STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of STERIS in a research note on Monday, August 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $275.00 price objective (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $276.33.

STERIS Stock Performance

Shares of STE opened at $250.45 on Friday. The firm has a 50-day moving average of $220.19 and a 200-day moving average of $224.74. STERIS has a one year low of $195.14 and a one year high of $269.44. The company has a market cap of $24.42 billion, a PE ratio of 29.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.35.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. STERIS had a net margin of 13.41% and a return on equity of 14.84%. STERIS’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 EPS. As a group, equities analysts forecast that STERIS will post 11.17 earnings per share for the current year.

Insider Activity

In related news, Director Mohsen Sohi sold 4,058 shares of STERIS stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total transaction of $956,795.24. Following the completion of the sale, the director owned 24,305 shares of the company’s stock, valued at approximately $5,730,632.90. The trade was a 14.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On STERIS

Several hedge funds have recently bought and sold shares of STE. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of STERIS by 51.0% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 25,355 shares of the medical equipment provider’s stock valued at $5,325,000 after purchasing an additional 8,560 shares during the last quarter. Corient Private Wealth LP increased its stake in shares of STERIS by 109.7% during the second quarter. Corient Private Wealth LP now owns 20,978 shares of the medical equipment provider’s stock worth $4,417,000 after purchasing an additional 10,976 shares during the period. Kornitzer Capital Management Inc. KS acquired a new stake in STERIS during the 1st quarter worth approximately $5,506,000. Copeland Capital Management LLC lifted its holdings in STERIS by 13.7% during the 3rd quarter. Copeland Capital Management LLC now owns 177,778 shares of the medical equipment provider’s stock worth $37,335,000 after purchasing an additional 21,353 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in STERIS by 8.8% during the 1st quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider’s stock worth $231,883,000 after purchasing an additional 85,188 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Company Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.