Steris Plc (STE) Lifted to “Buy” at Zacks Investment Research
Steris Plc (NYSE:STE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $101.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.59% from the company’s previous close.
According to Zacks, “Over the last three months, STERIS has been trading above the broader industry. The company has gained investors’ confidence by posting better-than-expected results on both lines in first-quarter fiscal 2018. Also, organic growth performance was strong across all segments. Further, growth in free cash flow reserve is indicative of the company’s strong cash balance. Moreover, both gross and operating margin expanded year over year. Recently, the company made a couple of organizational changes, expected to serve its customers in a better way. Also, we expect that this move will enhance the company’s cost structure. On the flip side, the year-over-year decline in revenues in the last reported quarter was a disappointment. Moreover, a tough competitive landscape and currency headwinds may continue to remain a concern for the company.”
Several other research firms have also weighed in on STE. Raymond James Financial, Inc. boosted their price target on Steris Plc from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. BidaskClub lowered Steris Plc from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Steris Plc presently has an average rating of “Buy” and a consensus price target of $89.00.
Shares of Steris Plc (NYSE:STE) traded down 0.536% during trading on Monday, reaching $90.025. The company’s stock had a trading volume of 60,957 shares. Steris Plc has a 52 week low of $63.80 and a 52 week high of $91.18. The stock’s 50 day moving average price is $87.07 and its 200 day moving average price is $79.97. The company has a market cap of $7.67 billion, a PE ratio of 64.396 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 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The firm had revenue of $608.00 million for the quarter, compared to analyst estimates of $597.66 million. Steris Plc had a return on equity of 11.39% and a net margin of 4.63%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. Equities research analysts predict that Steris Plc will post $4.06 EPS for the current year.
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In related news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $90.50, for a total transaction of $905,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Martin Steeves sold 156,072 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $87.13, for a total value of $13,598,553.36. Following the transaction, the director now directly owns 9,362 shares in the company, valued at $815,711.06. The disclosure for this sale can be found here. Insiders have sold a total of 194,086 shares of company stock worth $16,953,621 over the last three months. 2.55% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. bought a new stake in Steris Plc in the 2nd quarter valued at $206,000. Van Cleef Asset Management Inc bought a new stake in Steris Plc in the 2nd quarter valued at $208,000. Cigna Investments Inc. New bought a new stake in Steris Plc in the 2nd quarter valued at $209,000. BT Investment Management Ltd bought a new stake in Steris Plc in the 2nd quarter valued at $210,000. Finally, Allegis Investment Advisors LLC bought a new stake in Steris Plc in the 2nd quarter valued at $251,000. Institutional investors and hedge funds own 93.33% 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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