Steris Corp. (STE) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “We believe STERIS is expected to earn massively on the rapid aging of the global population as a major fraction of the population are expected to enter their prime healthcare consumption years. The company also has a strong cash balance position as is evident from the recent increase witnessed in its free cash flow reserve. Additionally lower effective tax rate played a crucial role in enhancing the company’s first quarter bottom line year over year growth. However governments and insurance companies’ consistent efforts to contain the rising cost of healthcare, has been putting a lot of pressure on the healthcare providers like STERIS. Moreover, customer consolidation remains a concerning issue. The company’s lowered revenue guidance for fiscal 2017 is further disappointing.”
Separately, Northcoast Research upgraded shares of Steris Corp. from a neutral rating to a buy rating in a research report on Friday, June 3rd.
Steris Corp. (NYSE:STE) traded up 0.2890% during trading on Thursday, reaching $72.8399. The company’s stock had a trading volume of 67,389 shares. Steris Corp. has a 52-week low of $61.38 and a 52-week high of $78.77. The firm’s 50-day moving average is $71.29 and its 200-day moving average is $70.20. The stock has a market cap of $6.28 billion, a P/E ratio of 41.8380 and a beta of 1.16.
Steris Corp. (NYSE:STE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Steris Corp. had a net margin of 5.52% and a return on equity of 10.72%. The company earned $638.40 million during the quarter, compared to the consensus estimate of $639.04 million. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 45.1% on a year-over-year basis. Equities research analysts forecast that Steris Corp. will post $3.90 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, August 30th were paid a $0.28 dividend. This is a boost from Steris Corp.’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, August 26th. This represents a $1.12 annualized dividend and a dividend yield of 1.54%. Steris Corp.’s payout ratio is currently 68.71%.
In related news, VP Sudhir K. Pahwa sold 1,028 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $70.13, for a total value of $72,093.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel A. Carestio sold 2,681 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $71.04, for a total transaction of $190,458.24. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Atlanta Capital Management Co. L L C boosted its stake in shares of Steris Corp. by 15.4% in the first quarter. Atlanta Capital Management Co. L L C now owns 149,566 shares of the company’s stock valued at $10,626,000 after buying an additional 20,014 shares in the last quarter. DIAM Co. Ltd. raised its position in Steris Corp. by 8.3% in the second quarter. DIAM Co. Ltd. now owns 172,903 shares of the company’s stock valued at $11,646,000 after buying an additional 13,283 shares during the last quarter. State Street Corp raised its position in Steris Corp. by 0.3% in the first quarter. State Street Corp now owns 2,687,145 shares of the company’s stock valued at $190,922,000 after buying an additional 8,408 shares during the last quarter. Nuveen Asset Management LLC raised its position in Steris Corp. by 9.5% in the first quarter. Nuveen Asset Management LLC now owns 65,392 shares of the company’s stock valued at $4,646,000 after buying an additional 5,649 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Steris Corp. by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,426,099 shares of the company’s stock valued at $172,374,000 after buying an additional 54,810 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.
Steris Corp. Company Profile
STERIS Corporation (STERIS) is a provider of infection prevention and other procedural products and services. The Company is focused on healthcare, pharmaceutical and research. The Company operates through three business segments: Healthcare, Life Sciences and STERIS Isomedix Services. The Healthcare segment provides surgical, sterile processing, infection prevention and gastrointestinal solutions.
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