STERIS (NYSE:STE) Price Target Raised to $260.00 at Morgan Stanley

STERIS (NYSE:STE) had its price objective hoisted by research analysts at Morgan Stanley from $240.00 to $260.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target points to a potential upside of 2.98% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. JMP Securities lifted their price target on STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research note on Friday. Stephens restated an “overweight” rating and issued a $250.00 price objective on shares of STERIS in a research report on Thursday. Piper Sandler boosted their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup reissued an “outperform” rating on shares of STERIS in a report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and an average price target of $264.00.

STERIS Stock Up 0.3%

Shares of STE stock traded up $0.88 during mid-day trading on Monday, hitting $252.47. 161,111 shares of the stock traded hands, compared to its average volume of 542,401. The stock’s fifty day moving average is $224.13 and its two-hundred day moving average is $219.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. STERIS has a 52-week low of $200.98 and a 52-week high of $252.67. The stock has a market cap of $24.80 billion, a P/E ratio of 53.60 and a beta of 0.96.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business posted $2.58 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Equities analysts predict that STERIS will post 9.08 EPS for the current year.

Institutional Investors Weigh In On STERIS

Large investors have recently made changes to their positions in the stock. Avalon Trust Co purchased a new stake in shares of STERIS in the 4th quarter valued at approximately $30,000. Human Investing LLC purchased a new position in STERIS in the fourth quarter valued at $31,000. Grove Bank & Trust lifted its stake in STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 142 shares during the last quarter. Anfield Capital Management LLC lifted its holdings in STERIS by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of STERIS during the 1st quarter worth approximately $37,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

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.