STERIS’s (STE) Market Outperform Rating Reaffirmed at JMP Securities

STERIS (NYSE:STE)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $265.00 price objective on the medical equipment provider’s stock. JMP Securities’ target price indicates a potential upside of 18.10% from the company’s current price.

Several other research analysts have also issued reports on STE. TheStreet upgraded shares of STERIS from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Stephens reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of STERIS in a research note on Friday, February 9th. StockNews.com downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, April 12th. Finally, KeyCorp initiated coverage on STERIS in a research note on Tuesday, February 6th. They set an “overweight” rating and a $253.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $239.60.

STERIS Stock Up 6.8 %

Shares of STERIS stock traded up $14.29 during trading hours on Thursday, hitting $224.38. 603,162 shares of the company’s stock traded hands, compared to its average volume of 471,260. The stock has a 50 day simple moving average of $217.16 and a 200-day simple moving average of $215.97. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50. The company has a market cap of $22.17 billion, a PE ratio of 39.16 and a beta of 0.81. STERIS has a twelve month low of $187.07 and a twelve month high of $254.00.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. STERIS’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $2.30 earnings per share. Equities research analysts anticipate that STERIS will post 8.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in STERIS in the 4th quarter valued at approximately $220,954,000. Impax Asset Management Group plc grew its holdings in STERIS by 419.1% in the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after purchasing an additional 779,038 shares during the period. APG Asset Management US Inc. acquired a new stake in STERIS in the fourth quarter worth $74,963,000. Sustainable Growth Advisers LP lifted its stake in shares of STERIS by 23.5% in the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after buying an additional 282,387 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of STERIS by 71.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock valued at $132,763,000 after buying an additional 252,200 shares in the last quarter. Institutional investors and hedge funds 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.