STERIS (STE) Expected to Announce Quarterly Sales of $709.63 Million

Wall Street analysts forecast that STERIS (NYSE:STE) will announce sales of $709.63 million for the current quarter, Zacks reports. Three analysts have issued estimates for STERIS’s earnings. The highest sales estimate is $711.20 million and the lowest is $707.00 million. STERIS reported sales of $681.19 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The business is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.

On average, analysts expect that STERIS will report full-year sales of $2.61 billion for the current fiscal year, with estimates ranging from $2.61 billion to $2.62 billion. For the next year, analysts forecast that the firm will report sales of $2.73 billion per share, with estimates ranging from $2.73 billion to $2.74 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover STERIS.

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STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05. The firm had revenue of $661.90 million during the quarter, compared to analysts’ expectations of $663.17 million. STERIS had a return on equity of 11.57% and a net margin of 9.42%. STERIS’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS.



Several equities analysts have recently commented on the company. Zacks Investment Research cut STERIS from a “buy” rating to a “hold” rating and set a $106.00 target price for the company. in a research note on Thursday, April 12th. KeyCorp reiterated a “buy” rating and set a $103.00 target price on shares of STERIS in a research note on Thursday, February 8th. Northcoast Research set a $102.00 target price on STERIS and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Raymond James reiterated a “market perform” rating and set a $100.00 target price on shares of STERIS in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $85.40.

In related news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $95.50, for a total transaction of $955,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Sudhir K. Pahwa sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $92.09, for a total value of $184,180.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,415 shares of company stock valued at $7,178,536. Company insiders own 2.55% of the company’s stock.

Several hedge funds have recently bought and sold shares of STE. BlackRock Inc. increased its position in STERIS by 3.4% in the fourth quarter. BlackRock Inc. now owns 7,184,409 shares of the medical equipment provider’s stock worth $628,419,000 after buying an additional 239,200 shares during the period. Congress Asset Management Co. MA grew its stake in shares of STERIS by 36.6% in the fourth quarter. Congress Asset Management Co. MA now owns 822,391 shares of the medical equipment provider’s stock worth $71,935,000 after purchasing an additional 220,268 shares in the last quarter. American Century Companies Inc. grew its stake in shares of STERIS by 14.6% in the fourth quarter. American Century Companies Inc. now owns 1,194,167 shares of the medical equipment provider’s stock worth $104,454,000 after purchasing an additional 152,346 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of STERIS by 106.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 196,421 shares of the medical equipment provider’s stock worth $17,181,000 after purchasing an additional 101,396 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of STERIS by 34.4% in the fourth quarter. Bank of Montreal Can now owns 340,450 shares of the medical equipment provider’s stock worth $29,779,000 after purchasing an additional 87,166 shares in the last quarter. 89.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of STERIS stock traded down $0.47 on Monday, hitting $96.39. 93,229 shares of the company’s stock traded hands, compared to its average volume of 355,282. The stock has a market cap of $8,226.87, a P/E ratio of 24.12 and a beta of 1.12. The company has a current ratio of 2.82, a quick ratio of 2.22 and a debt-to-equity ratio of 0.46. STERIS has a 52-week low of $70.29 and a 52-week high of $97.47.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.31 per share. This is a boost from STERIS’s previous quarterly dividend of $0.21. This represents a $1.24 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 27th. STERIS’s dividend payout ratio is 32.98%.

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About STERIS

STERIS plc develops, manufactures, and markets infection prevention, contamination control, microbial reduction, and surgical and gastrointestinal support products and services for healthcare, pharmaceutical, scientific, research, industrial, and governmental customers worldwide. The company's Healthcare Products segment offers steam, vaporized hydrogen peroxide, and ethylene oxide sterilizers, as well as liquid chemical sterilant processing systems; automated washer/disinfector systems; general and specialty surgical tables, surgical and examination lights, equipment management systems, operating room storage cabinets, warming cabinets, scrub sinks, and other accessories; and gastrointestinal devices and accessories.

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