STERIS (NYSE:STE) Announces Quarterly Earnings Results

STERIS (NYSE:STE) announced its quarterly earnings data on Wednesday. The medical equipment provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.27, FiscalAI reports. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion.

STERIS Stock Performance

STE traded up $17.34 during trading on Wednesday, reaching $248.69. 1,379,877 shares of the company were exchanged, compared to its average volume of 765,609. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $24.25 billion, a P/E ratio of 30.40 and a beta of 0.86. STERIS has a 52 week low of $195.14 and a 52 week high of $269.44. The firm has a 50 day moving average of $219.59 and a 200 day moving average of $224.91.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Tuesday, November 17th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, November 17th. STERIS’s dividend payout ratio is presently 33.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STE. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a report on Monday, August 24th. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $275.00 price objective (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Finally, UBS Group lowered their target price on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, STERIS currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.33.

Insider Activity at STERIS

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

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.