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

Wall Street Zen upgraded shares of STERIS (NYSE:STE) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

STE has been the subject of a number of other reports. Jefferies Financial Group raised STERIS from a “hold” rating to a “buy” rating and raised their price target for the stock from $232.00 to $305.00 in a research note on Friday. KeyCorp boosted their price objective on STERIS from $269.00 to $284.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Morgan Stanley raised STERIS from an “overweight” rating to a “buy” rating in a research report on Friday. UBS Group reduced their target price on STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded STERIS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, November 9th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.50.

STERIS Trading Up 4.1%

NYSE:STE traded up $10.32 during mid-day trading on Friday, hitting $263.76. 984,350 shares of the stock traded hands, compared to its average volume of 854,915. The company has a quick ratio of 1.44, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. STERIS has a 52 week low of $195.14 and a 52 week high of $269.44. The stock has a market capitalization of $25.61 billion, a price-to-earnings ratio of 31.29 and a beta of 0.86. The firm’s 50 day moving average is $223.28 and its two-hundred day moving average is $224.61.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.26. STERIS had a net margin of 13.41% and a return on equity of 14.80%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that STERIS will post 11.46 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced 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 1.0%. The ex-dividend date is Tuesday, November 17th. STERIS’s dividend payout ratio is currently 32.74%.

Insider Activity at STERIS

In related news, CFO Karen L. Burton sold 5,880 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $255.62, for a total value of $1,503,045.60. Following the transaction, the chief financial officer owned 12,956 shares of the company’s stock, valued at $3,311,812.72. This represents a 31.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mohsen Sohi sold 4,893 shares of the stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $253.22, for a total value of $1,239,005.46. Following the completion of the transaction, the director directly owned 24,305 shares in the company, valued at approximately $6,154,512.10. This trade represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On STERIS

Several hedge funds have recently made changes to their positions in STE. Wellington Management Group LLP grew its position 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 buying an additional 629,532 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of STERIS by 25.7% in the first quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock valued at $411,995,000 after acquiring an additional 380,504 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of STERIS by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,113,845 shares of the medical equipment provider’s stock valued at $246,295,000 after acquiring an additional 46,391 shares in the last quarter. Amundi lifted its stake in STERIS by 43.2% in the first quarter. Amundi now owns 771,092 shares of the medical equipment provider’s stock worth $170,512,000 after acquiring an additional 232,520 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in STERIS by 20.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 519,511 shares of the medical equipment provider’s stock worth $114,879,000 after acquiring an additional 88,872 shares during the period. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

About STERIS

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures. The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.