STERIS (NYSE:STE) Issues Quarterly Earnings Results

STERIS (NYSE:STE) issued its earnings results on Wednesday. The medical equipment provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.68 by $0.26, FiscalAI reports. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. STERIS had a return on equity of 14.84% and a net margin of 13.41%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.47 EPS.

STERIS Price Performance

STE stock traded down $2.05 during midday trading on Friday, reaching $252.07. The company had a trading volume of 520,942 shares, compared to its average volume of 768,358. The firm has a 50-day moving average price of $220.19 and a 200-day moving average price of $224.74. The company has a market capitalization of $24.58 billion, a P/E ratio of 29.90 and a beta of 0.86. STERIS has a 1 year low of $195.14 and a 1 year high of $269.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.35.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 17th. STERIS’s payout ratio is currently 32.74%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STE. Weiss Ratings reissued a “hold (c)” rating on shares of STERIS in a report on Monday, August 24th. Piper Sandler reaffirmed an “overweight” rating and set a $275.00 price objective (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. KeyCorp increased their target price on shares of STERIS from $269.00 to $284.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, UBS Group cut their price target on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $276.33.

Insider Buying and Selling at STERIS

In related news, Director Mohsen Sohi sold 4,058 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.12% of the company’s stock.

STERIS Company Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.