KeyCorp Comments on STERIS PLC’s Q2 2018 Earnings (STE)
STERIS PLC (NYSE:STE) – Equities researchers at KeyCorp lowered their Q2 2018 earnings estimates for shares of STERIS PLC in a report issued on Wednesday. KeyCorp analyst M. Mishan now forecasts that the medical equipment provider will post earnings per share of $0.92 for the quarter, down from their previous forecast of $0.93. KeyCorp has a “Overweight” rating and a $89.00 price target on the stock. KeyCorp also issued estimates for STERIS PLC’s Q3 2018 earnings at $1.08 EPS and Q4 2018 earnings at $1.20 EPS.
Several other equities research analysts have also recently weighed in on STE. Raymond James Financial, Inc. increased their target price on STERIS PLC from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday. BidaskClub cut STERIS PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded STERIS PLC from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Wellington Shields cut STERIS PLC from a “gradually accumulate” rating to a “hold” rating in a report on Monday, June 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $86.75.
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STERIS PLC (STE) traded down 0.8669% on Thursday, reaching $85.4825. The company’s stock had a trading volume of 91,975 shares. The firm has a 50 day moving average of $82.41 and a 200 day moving average of $74.89. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 61.1463 and a beta of 1.33. STERIS PLC has a 12 month low of $63.80 and a 12 month high of $87.49.
STERIS PLC (NYSE:STE) last posted its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05. The firm had revenue of $608 million for the quarter, compared to analysts’ expectations of $597.66 million. STERIS PLC had a return on equity of 11.39% and a net margin of 4.63%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Tuesday, August 29th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $1.24 annualized dividend and a yield of 1.44%. This is a boost from STERIS PLC’s previous quarterly dividend of $0.28. STERIS PLC’s dividend payout ratio (DPR) is 80.00%.
In other news, Director Michael B. Wood sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $81.50, for a total value of $326,000.00. Following the completion of the transaction, the director now owns 26,131 shares in the company, valued at approximately $2,129,676.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $80.05, for a total value of $800,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,340 shares of company stock valued at $2,432,704. Company insiders own 2.55% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STE. Russell Investments Group Ltd. boosted its position in STERIS PLC by 57.5% in the first quarter. Russell Investments Group Ltd. now owns 132,035 shares of the medical equipment provider’s stock worth $9,171,000 after buying an additional 48,188 shares during the last quarter. Sit Investment Associates Inc. boosted its position in STERIS PLC by 1.4% in the first quarter. Sit Investment Associates Inc. now owns 35,000 shares of the medical equipment provider’s stock worth $2,431,000 after buying an additional 475 shares during the last quarter. Speece Thorson Capital Group Inc. boosted its position in STERIS PLC by 2.8% in the first quarter. Speece Thorson Capital Group Inc. now owns 155,644 shares of the medical equipment provider’s stock worth $10,811,000 after buying an additional 4,278 shares during the last quarter. BTIM Corp. boosted its position in STERIS PLC by 2.7% in the first quarter. BTIM Corp. now owns 93,799 shares of the medical equipment provider’s stock worth $6,515,000 after buying an additional 2,436 shares during the last quarter. Finally, NBW Capital LLC boosted its position in STERIS PLC by 24.0% in the first quarter. NBW Capital LLC now owns 47,312 shares of the medical equipment provider’s stock worth $3,286,000 after buying an additional 9,170 shares during the last quarter. Institutional investors own 91.80% of the company’s stock.
STERIS PLC Company Profile
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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