STERIS (NYSE:STE – Free Report) had its target price raised by KeyCorp from $235.00 to $254.00 in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have an overweight rating on the medical equipment provider’s stock.
Other research analysts have also issued research reports about the company. Piper Sandler boosted their target price on STERIS from $197.00 to $200.00 in a research report on Friday, May 12th. Morgan Stanley initiated coverage on STERIS in a research report on Tuesday, May 30th. They set an equal weight rating and a $206.00 target price for the company. Stephens boosted their target price on STERIS from $240.00 to $250.00 in a research report on Monday, July 17th. StockNews.com assumed coverage on STERIS in a research report on Thursday, May 18th. They set a buy rating for the company. Finally, TheStreet upgraded STERIS from a c rating to a b- rating in a report on Wednesday, May 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, STERIS has an average rating of Moderate Buy and an average price target of $231.17.
STERIS Trading Down 0.9 %
Shares of STE stock opened at $229.85 on Tuesday. The stock’s 50-day moving average price is $215.32 and its 200-day moving average price is $200.90. The company has a current ratio of 2.33, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50. STERIS has a 12-month low of $159.21 and a 12-month high of $234.16. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of 214.82, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.
STERIS Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.52 per share. This is a boost from STERIS’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 0.90%. STERIS’s dividend payout ratio is currently 175.70%.
Insiders Place Their Bets
In other STERIS news, Director Mohsen Sohi sold 2,069 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $212.28, for a total transaction of $439,207.32. Following the completion of the transaction, the director now directly owns 22,361 shares in the company, valued at $4,746,793.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On STERIS
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of STERIS by 1.3% during the first quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock worth $2,786,586,000 after buying an additional 143,253 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of STERIS by 0.6% during the second quarter. WCM Investment Management LLC now owns 5,492,005 shares of the medical equipment provider’s stock worth $1,240,040,000 after buying an additional 33,281 shares in the last quarter. State Street Corp grew its holdings in shares of STERIS by 0.4% during the first quarter. State Street Corp now owns 4,229,089 shares of the medical equipment provider’s stock worth $1,022,467,000 after buying an additional 17,292 shares in the last quarter. Morgan Stanley grew its holdings in shares of STERIS by 70.7% during the fourth quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider’s stock worth $693,780,000 after buying an additional 1,556,136 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of STERIS by 4.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,364,283 shares of the medical equipment provider’s stock worth $436,660,000 after buying an additional 107,474 shares in the last quarter. Hedge funds and other institutional investors own 93.69% of the company’s stock.
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.
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