Wall Street Zen Upgrades STERIS (NYSE:STE) to Strong-Buy

STERIS (NYSE:STE) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

STE has been the subject of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $275.00 target price (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. Finally, UBS Group reduced their price objective on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $271.33.

STERIS Stock Down 0.0%

NYSE:STE opened at $208.48 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. The company has a market cap of $20.33 billion, a PE ratio of 25.49 and a beta of 0.92. STERIS has a 52-week low of $195.14 and a 52-week high of $269.44. The stock has a 50-day simple moving average of $224.22 and a 200 day simple moving average of $218.24.

STERIS (NYSE:STE) last released its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.49 by $0.10. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%.The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, sell-side analysts expect that STERIS will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling at STERIS

In related news, Director Mohsen Sohi sold 4,058 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total transaction of $956,795.24. Following the transaction, the director directly owned 24,305 shares in the company, valued at approximately $5,730,632.90. The trade was a 14.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Institutional Trading of STERIS

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of STERIS by 21.9% during the 2nd quarter. Wellington Management Group LLP now owns 3,502,897 shares of the medical equipment provider’s stock worth $737,605,000 after purchasing an additional 629,532 shares during the last quarter. Janus Henderson Group PLC lifted its stake in STERIS by 25.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock valued at $411,995,000 after purchasing an additional 380,504 shares during the last quarter. Franklin Resources Inc. lifted its stake in STERIS by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 1,252,844 shares of the medical equipment provider’s stock valued at $317,621,000 after purchasing an additional 7,840 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in STERIS by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,113,845 shares of the medical equipment provider’s stock valued at $246,295,000 after purchasing an additional 46,391 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in STERIS by 8.8% during the first quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider’s stock worth $231,883,000 after purchasing an additional 85,188 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Company Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, surgical procedures, and the manufacture of healthcare and pharmaceutical products. The company serves healthcare providers, pharmaceutical and biotechnology manufacturers, and other organizations that require controlled, sterile environments.

Its Healthcare segment offers sterilization and decontamination equipment, operating-room products, surgical instruments, endoscopy products, consumables, and related maintenance and procedural services.