According to Zacks, “We believe STERIS is expected to earn massively on the rapid aging of the global population as a major fraction of the population are expected to enter their prime healthcare consumption years. The company also has a strong cash balance position as is evident from the recent increase witnessed in its free cash flow reserve. Additionally lower effective tax rate played a crucial role in enhancing the company’s first quarter bottom line year over year growth. However governments and insurance companies’ consistent efforts to contain the rising cost of healthcare, has been putting a lot of pressure on the healthcare providers like STERIS. Moreover, customer consolidation remains a concerning issue. The company’s lowered revenue guidance for fiscal 2017 is further disappointing.”
Separately, Northcoast Research raised Steris Corp. from a neutral rating to a buy rating in a research note on Friday, June 3rd.
Steris Corp. (NYSE:STE) opened at 72.23 on Thursday. The company has a 50-day moving average price of $71.36 and a 200-day moving average price of $70.33. Steris Corp. has a one year low of $61.38 and a one year high of $78.77. The firm has a market capitalization of $6.22 billion, a P/E ratio of 41.49 and a beta of 1.13.
Steris Corp. (NYSE:STE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Steris Corp. had a return on equity of 10.72% and a net margin of 5.52%. The firm had revenue of $638.40 million for the quarter, compared to analyst estimates of $639.04 million. During the same period last year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 45.1% on a year-over-year basis. On average, equities research analysts anticipate that Steris Corp. will post $3.90 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Stockholders of record on Tuesday, August 30th were paid a $0.28 dividend. This is a positive change from Steris Corp.’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, August 26th. Steris Corp.’s payout ratio is currently 68.71%.
In other news, VP Sudhir K. Pahwa sold 1,028 shares of Steris Corp. stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $70.13, for a total value of $72,093.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel A. Carestio sold 2,681 shares of Steris Corp. stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $71.04, for a total value of $190,458.24. The disclosure for this sale can be found here. 2.52% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in STE. Virginia Retirement System bought a new stake in shares of Steris Corp. during the first quarter valued at approximately $341,000. TIAA CREF Investment Management LLC increased its stake in shares of Steris Corp. by 3.0% in the first quarter. TIAA CREF Investment Management LLC now owns 421,403 shares of the company’s stock valued at $29,941,000 after buying an additional 12,213 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Steris Corp. by 2.1% in the first quarter. Teachers Advisors Inc. now owns 313,011 shares of the company’s stock valued at $22,239,000 after buying an additional 6,330 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Steris Corp. by 300.3% in the first quarter. Stratos Wealth Partners LTD. now owns 12,462 shares of the company’s stock valued at $885,000 after buying an additional 9,349 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Steris Corp. by 34.1% in the first quarter. Prudential Financial Inc. now owns 425,398 shares of the company’s stock valued at $30,225,000 after buying an additional 108,083 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.
About Steris Corp.
STERIS Corporation (STERIS) is a provider of infection prevention and other procedural products and services. The Company is focused on healthcare, pharmaceutical and research. The Company operates through three business segments: Healthcare, Life Sciences and STERIS Isomedix Services. The Healthcare segment provides surgical, sterile processing, infection prevention and gastrointestinal solutions.
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