STERIS (NYSE:STE) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of STERIS (NYSE:STE) in a research note issued to investors on Friday morning, Benzinga reports.

Other research analysts also recently issued research reports about the company. TheStreet raised STERIS from a c+ rating to a b rating in a report on Wednesday, February 7th. JMP Securities reaffirmed a market outperform rating and set a $265.00 price target on shares of STERIS in a research note on Thursday, February 8th. KeyCorp started coverage on STERIS in a research report on Tuesday, February 6th. They issued an overweight rating and a $253.00 price objective for the company. Finally, Stephens reissued an overweight rating and set a $250.00 price objective on shares of STERIS in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $239.60.

STERIS Stock Down 1.1 %

NYSE STE opened at $204.00 on Friday. The firm has a 50-day simple moving average of $226.38 and a 200 day simple moving average of $218.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. The stock has a market cap of $20.16 billion, a PE ratio of 35.73 and a beta of 0.79. STERIS has a twelve month low of $180.54 and a twelve month high of $254.00.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.05. STERIS had a return on equity of 13.67% and a net margin of 10.48%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company posted $2.02 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. On average, research analysts forecast that STERIS will post 8.67 EPS for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were given a $0.52 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.08 annualized dividend and a dividend yield of 1.02%. STERIS’s dividend payout ratio is currently 36.43%.

Institutional Investors Weigh In On STERIS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STE. Morgan Stanley grew its position in shares of STERIS by 70.7% during the 4th quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider’s stock worth $693,780,000 after buying an additional 1,556,136 shares during the period. Norges Bank bought a new position in STERIS during the 4th quarter worth approximately $220,954,000. Impax Asset Management Group plc grew its holdings in STERIS by 419.1% during the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock valued at $211,430,000 after purchasing an additional 779,038 shares during the period. Invesco Ltd. increased its stake in STERIS by 89.8% in the first quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock valued at $230,645,000 after purchasing an additional 451,235 shares in the last quarter. Finally, APG Asset Management US Inc. bought a new stake in STERIS in the fourth quarter valued at approximately $74,963,000. Institutional investors own 94.69% of the company’s stock.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.