Steris (STE) Releases Quarterly Earnings Results

Steris (NYSE:STE) announced its earnings results on Monday. The medical equipment provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.09, Briefing.com reports. Steris had a return on equity of 12.50% and a net margin of 9.85%. The company had revenue of $768.00 million for the quarter, compared to the consensus estimate of $738.87 million. During the same period last year, the business posted $1.24 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Steris updated its FY20 guidance to $5.28-5.43 EPS.

Shares of Steris stock traded up $7.12 during trading on Tuesday, reaching $132.19. The company’s stock had a trading volume of 10,459 shares, compared to its average volume of 418,498. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.56 and a quick ratio of 1.99. Steris has a 12-month low of $99.14 and a 12-month high of $134.99. The company has a market cap of $10.58 billion, a PE ratio of 31.74 and a beta of 1.06.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Steris from a “sell” rating to a “hold” rating in a research note on Thursday, March 28th. Stephens restated a “buy” rating and issued a $135.00 price target on shares of Steris in a research note on Thursday, February 14th. Finally, JMP Securities restated a “buy” rating and issued a $135.00 price target on shares of Steris in a research note on Thursday, February 14th. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $141.00.

In other Steris news, CEO Walter M. Rosebrough, Jr. sold 50,000 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $125.00, for a total transaction of $6,250,000.00. Following the sale, the chief executive officer now directly owns 98,895 shares in the company, valued at $12,361,875. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael B. Wood sold 3,609 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $121.79, for a total value of $439,540.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,646 shares of company stock worth $6,939,093. Company insiders own 2.38% of the company’s stock.

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Steris Company Profile

STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.

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Earnings History for Steris (NYSE:STE)

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