Needham & Company LLC Reaffirms “Hold” Rating for STERIS (NYSE:STE)

Needham & Company LLC reiterated their hold rating on shares of STERIS (NYSE:STE) in a research report report published on Friday morning, Benzinga reports.

Other equities research analysts have also recently issued reports about the company. KeyCorp started coverage on STERIS in a report on Tuesday, February 6th. They set an overweight rating and a $253.00 price target on the stock. Stephens reissued an overweight rating and set a $250.00 price target on shares of STERIS in a report on Friday, February 9th. TheStreet raised STERIS from a c+ rating to a b rating in a report on Wednesday, February 7th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, STERIS has an average rating of Moderate Buy and an average price target of $239.60.

STERIS Stock Performance

Shares of STE opened at $201.26 on Friday. The business’s fifty day simple moving average is $226.02 and its two-hundred day simple moving average is $218.13. The company has a current ratio of 2.43, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50. STERIS has a 12 month low of $180.54 and a 12 month high of $254.00. The company has a market cap of $19.89 billion, a price-to-earnings ratio of 35.24 and a beta of 0.79.

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

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS’s dividend payout ratio (DPR) is 36.43%.

Hedge Funds Weigh In On STERIS

A number of large investors have recently bought and sold shares of STE. Millburn Ridgefield Corp acquired a new position in shares of STERIS during the third quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of STERIS during the third quarter worth $25,000. 1832 Asset Management L.P. acquired a new position in shares of STERIS during the first quarter worth $25,000. VisionPoint Advisory Group LLC acquired a new position in shares of STERIS during the fourth quarter worth $34,000. Finally, West Tower Group LLC increased its position in shares of STERIS by 2,483.3% during the fourth quarter. West Tower Group LLC now owns 155 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Company Profile

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.