Steris (NYSE:STE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “STERIS' favorable underlying market trends along with new product and service offerings buoy optimism. Further, growth in free cash flow reserve is indicative of the company’s strong cash balance. The company raising its constant currency organic revenue growth expectations for fiscal 2019 is indicative of brighter prospects. In November, STERIS announced a restructuring plan that involved shutting down of two manufacturing units along with product rationalization. STERIS has also made certain divestments and organizational changes, which are expected to better align with its operations. Over the past six months, STERIS has been outperforming its industry.”
Several other equities analysts have also commented on the company. Sidoti upped their target price on Steris from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, December 6th. JMP Securities reiterated a “buy” rating and issued a $135.00 target price on shares of Steris in a research note on Thursday, February 14th. Finally, Stephens reiterated a “buy” rating and issued a $135.00 target price on shares of Steris in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $138.20.
Steris (NYSE:STE) last released its earnings results on Monday, February 11th. The medical equipment provider reported $1.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. The firm had revenue of $696.24 million during the quarter, compared to analyst estimates of $687.90 million. Steris had a return on equity of 12.50% and a net margin of 9.85%. Research analysts predict that Steris will post 4.78 EPS for the current year.
In related news, Director Cynthia L. Feldmann sold 2,037 shares of the company’s 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 transaction, the director now directly owns 10,700 shares in the company, valued at $1,310,857. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Adam Zangerle sold 1,750 shares of the business’s stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $110.00, for a total value of $192,500.00. Following the sale, the vice president now directly owns 32,546 shares of the company’s stock, valued at approximately $3,580,060. The disclosure for this sale can be found here. Insiders sold 10,396 shares of company stock valued at $1,226,593 over the last quarter. Insiders own 2.38% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its position in Steris by 10,585.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,572,743 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 3,539,306 shares during the period. Advisory Services Network LLC grew its position in Steris by 26.0% during the fourth quarter. Advisory Services Network LLC now owns 427 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 88 shares during the period. Executive Wealth Management LLC purchased a new stake in Steris during the fourth quarter valued at about $47,000. Enlightenment Research LLC purchased a new stake in Steris during the fourth quarter valued at about $53,000. Finally, Rehmann Capital Advisory Group boosted its position in shares of Steris by 15.6% in the third quarter. Rehmann Capital Advisory Group now owns 712 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 96 shares during the period. 87.04% of the stock is owned by hedge funds and other institutional investors.
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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