Analysts Set STERIS plc (NYSE:STE) Price Target at $278.00

Shares of STERIS plc (NYSE:STE) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $277.25.

STE has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Saturday. KeyCorp cut their price target on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price objective on shares of STERIS in a research note on Thursday, May 21st. Weiss Ratings cut STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, UBS Group initiated coverage on shares of STERIS in a report on Tuesday. They issued a “buy” rating and a $275.00 price target on the stock.

Insider Buying and Selling

In other STERIS news, CEO Daniel A. Carestio sold 3,054 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $214.64, for a total value of $655,510.56. Following the completion of the sale, the chief executive officer owned 65,021 shares in the company, valued at approximately $13,956,107.44. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Adam Zangerle sold 1,419 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $209.28, for a total transaction of $296,968.32. Following the sale, the vice president owned 35,259 shares of the company’s stock, valued at $7,379,003.52. This represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,328 shares of company stock worth $1,554,051 in the last 90 days. 1.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STE. Western Wealth Management LLC bought a new position in shares of STERIS during the first quarter valued at approximately $25,000. Elevation Wealth Partners LLC boosted its stake in STERIS by 1,130.0% during the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 113 shares in the last quarter. Activest Wealth Management grew its stake in shares of STERIS by 423.8% in the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 89 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of STERIS in the fourth quarter worth $28,000. Finally, Geneos Wealth Management Inc. grew its position in STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE:STE opened at $228.75 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $212.99 and its two-hundred day simple moving average is $226.56. STERIS has a 1-year low of $195.14 and a 1-year high of $269.44. The stock has a market cap of $22.29 billion, a PE ratio of 28.85 and a beta of 0.92.

STERIS (NYSE:STE) last released its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the firm posted $2.74 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, analysts forecast that STERIS will post 11.17 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.2%. This is a boost from STERIS’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, September 4th. STERIS’s payout ratio is 31.78%.

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.