Steris (NYSE:STE) Sets New 12-Month High at $142.44

Steris PLC (NYSE:STE) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $142.44 and last traded at $142.37, with a volume of 20411 shares. The stock had previously closed at $140.45.

Several research firms have issued reports on STE. JMP Securities increased their price objective on Steris from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 22nd. Stephens increased their price objective on Steris from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. KeyCorp increased their price objective on Steris from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded Steris from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a buy rating, Steris has an average rating of “Buy” and a consensus price target of $148.20.

The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 28.84 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 1.82.

Steris (NYSE:STE) last announced its quarterly earnings results on Monday, May 13th. The medical equipment provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.09. The business had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $738.87 million. Steris had a return on equity of 13.34% and a net margin of 10.93%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.24 earnings per share. Analysts forecast that Steris PLC will post 5.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 12th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, June 11th. Steris’s payout ratio is currently 27.81%.

In other Steris news, Director Richard Martin Steeves sold 72,867 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $136.78, for a total value of $9,966,748.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 119,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $132.56, for a total value of $15,774,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 259,785 shares of company stock worth $34,402,980. Corporate insiders own 2.36% of the company’s stock.

A number of large investors have recently modified their holdings of STE. Pinebridge Investments L.P. acquired a new position in shares of Steris in the 1st quarter valued at about $50,000. Rockefeller Capital Management L.P. acquired a new position in shares of Steris in the 1st quarter valued at about $54,000. Advisory Services Network LLC lifted its stake in shares of Steris by 26.0% in the 4th quarter. Advisory Services Network LLC now owns 427 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 88 shares in the last quarter. Executive Wealth Management LLC acquired a new position in shares of Steris in the 4th quarter valued at about $47,000. Finally, Enlightenment Research LLC acquired a new position in shares of Steris in the 4th quarter valued at about $53,000. 83.37% of the stock is currently owned by hedge funds and other institutional investors.

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About Steris (NYSE:STE)

STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.

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