Steris (NYSE:STE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $103.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.14% from the stock’s current price.

According to Zacks, “STERIS has been witnessing strong organic growth across Specialty Services, Life Sciences and Applied Sterilization segments. Moreover, gross and operating margins have been improving year over year. Recently, the company made a couple of organizational changes, expected to serve its customers in a better way. We also expect this move to enhance the company’s cost structure. Further, growth in free cash flow is indicative of the company’s strong cash balance. On the flip side, STERIS operates in a tough competitive landscape. Also, currency headwinds continue to pose concerns for the company. Moreover, STERIS witnessing a year-over-year decline in revenues in the last reported quarter was a disappointment. Also, over the past three months, STERIS has been trading below the broader industry.”

A number of other research analysts also recently weighed in on the company. Raymond James Financial reiterated a “market perform” rating and set a $100.00 target price on shares of Steris in a report on Wednesday, January 3rd. TD Securities upped their target price on Steris from C$14.00 to C$16.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Finally, KeyCorp reiterated an “overweight” rating and set a $101.00 target price (up previously from $91.00) on shares of Steris in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.00.

Shares of Steris (NYSE:STE) traded down $0.11 during trading hours on Tuesday, reaching $91.85. The company had a trading volume of 311,100 shares, compared to its average volume of 358,607. Steris has a 52 week low of $65.26 and a 52 week high of $93.71. The stock has a market cap of $7,830.00, a P/E ratio of 55.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.18 and a current ratio of 2.80.

Steris (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Steris had a net margin of 5.59% and a return on equity of 11.49%. The business had revenue of $634.20 million for the quarter, compared to analysts’ expectations of $629.02 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. equities research analysts anticipate that Steris will post 4.06 earnings per share for the current fiscal year.

In related news, VP John Adam Zangerle sold 3,650 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $88.00, for a total value of $321,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.55% of the company’s stock.

Several institutional investors have recently bought and sold shares of STE. Alliancebernstein L.P. grew its stake in shares of Steris by 804.7% in the 2nd quarter. Alliancebernstein L.P. now owns 52,571 shares of the medical equipment provider’s stock worth $4,285,000 after buying an additional 46,760 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Steris by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 266,252 shares of the medical equipment provider’s stock valued at $21,679,000 after acquiring an additional 15,987 shares in the last quarter. Stevens Capital Management LP bought a new position in Steris in the 2nd quarter valued at approximately $809,000. Thrivent Financial For Lutherans lifted its position in Steris by 6.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 17,520 shares of the medical equipment provider’s stock valued at $1,428,000 after acquiring an additional 1,050 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Steris by 109.7% in the 2nd quarter. New York State Common Retirement Fund now owns 294,096 shares of the medical equipment provider’s stock valued at $23,969,000 after acquiring an additional 153,859 shares in the last quarter. Institutional investors own 89.59% of the company’s stock.

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Steris 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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