KeyCorp Boosts Steris (STE) Price Target to $138.00

Steris (NYSE:STE) had its target price increased by KeyCorp from $135.00 to $138.00 in a research note published on Wednesday, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the medical equipment provider’s stock. KeyCorp also issued estimates for Steris’ Q1 2020 earnings at $1.11 EPS, Q2 2020 earnings at $1.25 EPS, Q3 2020 earnings at $1.39 EPS, Q4 2020 earnings at $1.65 EPS, FY2020 earnings at $5.40 EPS and FY2021 earnings at $5.99 EPS.

STE has been the topic of several other reports. Zacks Investment Research upgraded Steris from a sell rating to a hold rating in a research note on Thursday, March 28th. Stephens reaffirmed a buy rating and issued a $135.00 target price on shares of Steris in a research report on Thursday, February 14th. Finally, JMP Securities reaffirmed a buy rating and issued a $135.00 target price on shares of Steris in a research report on Thursday, February 14th. Five investment analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and a consensus target price of $145.20.

STE traded down $0.37 during trading hours on Wednesday, hitting $133.35. 419,038 shares of the stock were exchanged, compared to its average volume of 487,863. Steris has a 12 month low of $99.14 and a 12 month high of $135.97. The stock has a market capitalization of $11.31 billion, a PE ratio of 27.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 1.99.

Steris (NYSE:STE) last announced its quarterly earnings data on Monday, May 13th. The medical equipment provider reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.09. Steris had a return on equity of 13.34% and a net margin of 10.93%. The firm had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $738.87 million. During the same period last year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that Steris will post 5.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 12th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, June 11th. Steris’s dividend payout ratio is presently 27.81%.

In other Steris news, CEO Walter M. Rosebrough, Jr. sold 50,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $125.00, for a total value of $6,250,000.00. Following the sale, the chief executive officer now directly owns 98,895 shares of the company’s stock, valued at $12,361,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia L. Feldmann sold 2,037 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $122.51, for a total value of $249,552.87. Following the completion of the sale, the director now directly owns 10,700 shares in the company, valued at $1,310,857. The disclosure for this sale can be found here. Insiders sold 59,255 shares of company stock worth $7,416,275 over the last ninety days. 2.38% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB acquired a new position in Steris during the third quarter worth about $4,653,000. Vanguard Group Inc grew its holdings in Steris by 1.8% during the third quarter. Vanguard Group Inc now owns 7,516,051 shares of the medical equipment provider’s stock worth $859,837,000 after acquiring an additional 133,510 shares during the period. State of Alaska Department of Revenue grew its holdings in Steris by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 8,892 shares of the medical equipment provider’s stock worth $950,000 after acquiring an additional 172 shares during the period. First Hawaiian Bank grew its holdings in Steris by 144.9% during the fourth quarter. First Hawaiian Bank now owns 2,273 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 1,345 shares during the period. Finally, Gateway Investment Advisers LLC acquired a new position in Steris during the fourth quarter worth about $1,197,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

About Steris

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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