Steris Plc’s (STE) “Buy” Rating Reiterated at KeyCorp
Steris Plc (NYSE:STE)‘s stock had its “buy” rating reissued by analysts at KeyCorp in a report released on Tuesday. They presently have a $91.00 target price on the medical equipment provider’s stock. KeyCorp’s price target points to a potential upside of 0.36% from the stock’s previous close.
Several other research analysts 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 target on the stock in a research note on Tuesday, July 11th. BidaskClub downgraded shares of Steris Plc from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Raymond James Financial, Inc. raised their price target on shares of Steris Plc from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $90.75.
Shares of Steris Plc (NYSE:STE) traded down 0.03% during trading on Tuesday, hitting $90.64. 43,983 shares of the company traded hands. Steris Plc has a 52 week low of $63.80 and a 52 week high of $91.18. The company has a 50 day moving average price of $87.82 and a 200 day moving average price of $80.92. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 64.84 and a beta of 1.29.
Steris Plc (NYSE:STE) last posted its quarterly earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The company had revenue of $608.00 million for the quarter, compared to the consensus estimate of $597.66 million. Steris Plc had a net margin of 4.63% and a return on equity of 11.39%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 EPS. On average, analysts expect that Steris Plc will post $4.06 earnings per share for the current year.
In other Steris Plc news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $90.50, for a total transaction of $905,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Karen L. Burton sold 3,270 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $85.70, for a total transaction of $280,239.00. Following the transaction, the vice president now directly owns 11,807 shares in the company, valued at approximately $1,011,859.90. The disclosure for this sale can be found here. Insiders sold a total of 194,086 shares of company stock worth $16,953,621 in the last ninety days. 2.55% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bragg Financial Advisors Inc purchased a new position in Steris Plc during the 1st quarter valued at about $1,159,000. State of Wisconsin Investment Board purchased a new position in Steris Plc during the 2nd quarter valued at about $1,360,000. Morgan Stanley increased its position in Steris Plc by 28.3% during the 1st quarter. Morgan Stanley now owns 266,537 shares of the medical equipment provider’s stock valued at $18,514,000 after purchasing an additional 58,776 shares during the period. Schwab Charles Investment Management Inc. increased its position in Steris Plc by 31.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 325,685 shares of the medical equipment provider’s stock valued at $26,544,000 after purchasing an additional 77,516 shares during the period. Finally, Legal & General Group Plc increased its position in Steris Plc by 31.0% during the 1st quarter. Legal & General Group Plc now owns 56,190 shares of the medical equipment provider’s stock valued at $3,902,000 after purchasing an additional 13,294 shares during the period. 93.33% of the stock is currently 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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