STERIS (NYSE:STE) Downgraded by StockNews.com

StockNews.com cut shares of STERIS (NYSE:STE) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research firms have also recently weighed in on STE. TheStreet raised STERIS from a c+ rating to a b rating in a report on Wednesday, February 7th. KeyCorp started coverage on shares of STERIS in a research report on Tuesday, February 6th. They set an overweight rating and a $253.00 price objective on the stock. JMP Securities reaffirmed a market outperform rating and set a $265.00 price objective on shares of STERIS in a report on Thursday, February 8th. Needham & Company LLC restated a hold rating on shares of STERIS in a research report on Friday, April 12th. Finally, Stephens reaffirmed an overweight rating and set a $250.00 price target on shares of STERIS in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $239.60.

STERIS Trading Up 0.8 %

Shares of STERIS stock opened at $207.82 on Friday. The company’s 50-day moving average price is $218.46 and its 200-day moving average price is $216.09. The company has a market cap of $20.53 billion, a price-to-earnings ratio of 36.40 and a beta of 0.81. STERIS has a 12-month low of $185.22 and a 12-month high of $254.00. 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 (NYSE:STE) last announced its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 EPS for the quarter, beating the consensus estimate of $2.17 by $0.05. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned $2.02 EPS. On average, equities analysts expect that STERIS will post 8.67 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 12th. STERIS’s dividend payout ratio is presently 36.43%.

Hedge Funds Weigh In On STERIS

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of STERIS during the fourth quarter worth about $220,954,000. Impax Asset Management Group plc lifted its holdings in STERIS by 419.1% in the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after buying an additional 779,038 shares during the period. APG Asset Management US Inc. bought a new stake in shares of STERIS in the 4th quarter worth approximately $74,963,000. Goldman Sachs Group Inc. increased its stake in shares of STERIS by 71.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock valued at $132,763,000 after buying an additional 252,200 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of STERIS by 58.4% during the third quarter. Envestnet Asset Management Inc. now owns 586,380 shares of the medical equipment provider’s stock valued at $128,663,000 after acquiring an additional 216,113 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

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.