JMP Securities Raises Steris (STE) Price Target to $125.00
Steris (NYSE:STE) had its price objective upped by JMP Securities from $113.00 to $125.00 in a research note published on Thursday. They currently have a market outperform rating on the medical equipment provider’s stock.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Steris from a buy rating to a hold rating and set a $106.00 target price for the company. in a research report on Thursday, April 12th. Stephens reissued a buy rating and set a $125.00 target price on shares of Steris in a research report on Thursday. Finally, KeyCorp boosted their target price on shares of Steris from $115.00 to $120.00 and gave the stock an overweight rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Steris presently has an average rating of Buy and a consensus target price of $100.86.
Shares of STE stock traded up $0.09 on Thursday, hitting $114.83. The company’s stock had a trading volume of 472,267 shares, compared to its average volume of 435,918. The company has a current ratio of 2.65, a quick ratio of 1.97 and a debt-to-equity ratio of 0.43. Steris has a fifty-two week low of $82.88 and a fifty-two week high of $117.48. The firm has a market cap of $9.70 billion, a PE ratio of 27.67 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, August 29th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, August 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Steris’s previous quarterly dividend of $0.31. Steris’s dividend payout ratio is currently 29.88%.
In related news, SVP Daniel A. Carestio sold 2,806 shares of the company’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $105.90, for a total value of $297,155.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 10,697 shares of the company’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $102.91, for a total transaction of $1,100,828.27. Following the completion of the sale, the chief executive officer now directly owns 52,573 shares in the company, valued at approximately $5,410,287.43. The disclosure for this sale can be found here. Insiders have sold 46,703 shares of company stock valued at $4,922,274 in the last ninety days. 2.38% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of STE. Two Sigma Advisers LP bought a new position in Steris in the fourth quarter valued at $306,000. LPL Financial LLC grew its position in Steris by 50.6% in the fourth quarter. LPL Financial LLC now owns 10,046 shares of the medical equipment provider’s stock valued at $880,000 after purchasing an additional 3,377 shares in the last quarter. Wells Fargo & Company MN grew its position in Steris by 9.3% in the first quarter. Wells Fargo & Company MN now owns 1,208,002 shares of the medical equipment provider’s stock valued at $112,779,000 after purchasing an additional 102,550 shares in the last quarter. Dupont Capital Management Corp grew its position in Steris by 222.2% in the first quarter. Dupont Capital Management Corp now owns 85,387 shares of the medical equipment provider’s stock valued at $7,972,000 after purchasing an additional 58,887 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Steris by 61.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,387 shares of the medical equipment provider’s stock valued at $223,000 after purchasing an additional 910 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.
Steris Company Profile
STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
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