STERIS (NYSE:STE) Given “Neutral” Rating at Piper Sandler

STERIS (NYSE:STE)‘s stock had its “neutral” rating reissued by research analysts at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They presently have a $225.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $220.00. Piper Sandler’s price target would indicate a potential downside of 0.44% from the company’s previous close.

STE has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday. KeyCorp started coverage on STERIS in a report on Tuesday, February 6th. They set an “overweight” rating and a $253.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday. StockNews.com downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Stephens restated an “overweight” rating and set a $250.00 target price on shares of STERIS in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $241.60.

STERIS Stock Up 7.6 %

Shares of NYSE STE opened at $225.99 on Friday. STERIS has a 12-month low of $195.47 and a 12-month high of $254.00. The stock has a fifty day moving average price of $217.02 and a 200 day moving average price of $216.04. The company has a current ratio of 2.43, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50. The company has a market cap of $22.33 billion, a P/E ratio of 39.58 and a beta of 0.81.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.17. The business 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%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.30 earnings per share. Research analysts anticipate that STERIS will post 8.67 EPS for the current fiscal year.

Institutional Trading of STERIS

A number of hedge funds have recently modified their holdings of the business. J.Safra Asset Management Corp raised its position in STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 53 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of STERIS by 1.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 145,800 shares of the medical equipment provider’s stock valued at $32,779,000 after purchasing an additional 1,742 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of STERIS by 3.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,009,157 shares of the medical equipment provider’s stock worth $226,879,000 after purchasing an additional 32,755 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of STERIS by 3.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after purchasing an additional 3,342 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in STERIS by 8.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after buying an additional 4,494 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

About STERIS

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.