STERIS (NYSE:STE) Issues Earnings Results

STERIS (NYSE:STE) released its quarterly earnings results on Wednesday. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.53, FiscalAI reports. STERIS had a net margin of 12.07% and a return on equity of 14.43%.

STERIS Stock Up 1.1%

Shares of NYSE STE traded up $2.81 during trading on Wednesday, hitting $264.48. 852,403 shares of the company traded hands, compared to its average volume of 525,851. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of 38.00 and a beta of 1.03. The business’s fifty day moving average is $259.22 and its 200 day moving average is $249.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 2.37. STERIS has a fifty-two week low of $204.90 and a fifty-two week high of $269.44.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Tuesday, February 17th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, February 17th. STERIS’s payout ratio is 36.21%.

Insider Activity at STERIS

In other STERIS news, VP Julia Madsen sold 5,008 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $262.00, for a total value of $1,312,096.00. Following the transaction, the vice president owned 10,710 shares in the company, valued at approximately $2,806,020. This represents a 31.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Adam Zangerle sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $265.14, for a total value of $3,977,100.00. Following the completion of the sale, the vice president directly owned 33,669 shares of the company’s stock, valued at $8,926,998.66. This trade represents a 30.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 25,044 shares of company stock valued at $6,586,218 in the last three months. Corporate insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of STERIS by 4.0% during the third quarter. State Street Corp now owns 4,354,839 shares of the medical equipment provider’s stock worth $1,077,564,000 after acquiring an additional 166,736 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in shares of STERIS by 36.0% in the second quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock worth $504,486,000 after purchasing an additional 556,088 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of STERIS by 4.9% in the third quarter. Invesco Ltd. now owns 1,280,142 shares of the medical equipment provider’s stock valued at $316,758,000 after purchasing an additional 59,443 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of STERIS by 178.6% during the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock valued at $291,704,000 after buying an additional 758,423 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in STERIS by 24.3% during the third quarter. Bank of America Corp DE now owns 890,277 shares of the medical equipment provider’s stock worth $220,290,000 after buying an additional 173,895 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of STERIS in a research note on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.20.

About STERIS

STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.