Brokerages Set STERIS plc (NYSE:STE) Price Target at $239.60

STERIS plc (NYSE:STE) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $239.60.

A number of analysts have recently weighed in on STE shares. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Thursday, February 8th. KeyCorp assumed coverage on STERIS in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, April 12th. Stephens reaffirmed an “overweight” rating and issued a $250.00 price target on shares of STERIS in a research note on Friday, February 9th. Finally, TheStreet raised STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th.

Hedge Funds Weigh In On STERIS

Several institutional investors and hedge funds have recently added to or reduced their stakes in STE. Dynamic Advisor Solutions LLC purchased a new position in STERIS during the third quarter valued at $250,000. CWM LLC increased its holdings in shares of STERIS by 12.9% during the third quarter. CWM LLC now owns 2,067 shares of the medical equipment provider’s stock valued at $453,000 after acquiring an additional 236 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of STERIS during the third quarter valued at $1,704,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of STERIS during the third quarter valued at $761,000. Finally, Dash Acquisitions Inc. increased its holdings in shares of STERIS by 2.4% during the third quarter. Dash Acquisitions Inc. now owns 20,399 shares of the medical equipment provider’s stock valued at $4,481,000 after acquiring an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Trading Down 1.5 %

Shares of STE opened at $202.80 on Thursday. The business’s 50-day moving average price is $222.36 and its 200-day moving average price is $217.06. STERIS has a twelve month low of $180.54 and a twelve month high of $254.00. The stock has a market cap of $20.04 billion, a PE ratio of 35.52 and a beta of 0.79. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.05. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the business earned $2.02 earnings per share. STERIS’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that STERIS will post 8.67 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS’s dividend payout ratio is currently 36.43%.

About STERIS

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.