Steris Plc (STE) Earns “Overweight” Rating from KeyCorp
KeyCorp reissued their overweight rating on shares of Steris Plc (NYSE:STE) in a research report report published on Thursday. KeyCorp currently has a $101.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $91.00.
A number of other equities analysts have also recently commented on STE. Zacks Investment Research raised shares of Steris Plc from a hold rating to a buy rating and set a $92.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub cut shares of Steris Plc from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. lifted their price objective on shares of Steris Plc from $90.00 to $95.00 and gave the stock an outperform rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Steris Plc currently has an average rating of Buy and a consensus target price of $93.25.
Steris Plc (NYSE STE) traded up $0.91 during mid-day trading on Thursday, reaching $88.63. 467,223 shares of the company’s stock were exchanged, compared to its average volume of 376,950. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.80 and a quick ratio of 2.30. The stock has a market capitalization of $7,535.59, a P/E ratio of 22.84 and a beta of 1.31.
Steris Plc (NYSE:STE) last released its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.01). Steris Plc had a return on equity of 11.49% and a net margin of 5.59%. The company had revenue of $634.20 million for the quarter, compared to the consensus estimate of $629.02 million. During the same period last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. analysts expect that Steris Plc will post 4.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Tuesday, November 21st. Steris Plc’s dividend payout ratio is currently 73.81%.
In other news, insider Michael J. Tokich sold 11,000 shares of Steris Plc stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $92.00, for a total transaction of $1,012,000.00. Following the completion of the sale, the insider now owns 58,588 shares of the company’s stock, valued at $5,390,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Martin Steeves sold 156,072 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $87.13, for a total value of $13,598,553.36. Following the completion of the transaction, the director now directly owns 9,362 shares of the company’s stock, valued at approximately $815,711.06. The disclosure for this sale can be found here. Insiders have sold 205,086 shares of company stock valued at $17,965,621 in the last three months. Insiders own 2.55% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. State of Wisconsin Investment Board acquired a new position in Steris Plc in the second quarter valued at about $1,360,000. First Trust Advisors LP grew its position in Steris Plc by 84.6% in the second quarter. First Trust Advisors LP now owns 15,865 shares of the medical equipment provider’s stock valued at $1,293,000 after acquiring an additional 7,272 shares during the last quarter. Morgan Stanley grew its position in Steris Plc by 28.3% in the first quarter. Morgan Stanley now owns 266,537 shares of the medical equipment provider’s stock valued at $18,514,000 after acquiring an additional 58,776 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Steris Plc by 31.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 325,685 shares of the medical equipment provider’s stock valued at $26,544,000 after acquiring an additional 77,516 shares during the last quarter. Finally, Utah Retirement Systems bought a new position in Steris Plc in the second quarter valued at about $1,241,000. 94.09% of the stock is owned by institutional investors and hedge funds.
About Steris Plc
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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