FY2019 EPS Estimates for Steris PLC Boosted by Northcoast Research (STE)
Steris PLC (NYSE:STE) – Equities researchers at Northcoast Research raised their FY2019 EPS estimates for shares of Steris in a note issued to investors on Wednesday, November 7th. Northcoast Research analyst D. Keiser now forecasts that the medical equipment provider will earn $4.79 per share for the year, up from their prior forecast of $4.74. Northcoast Research also issued estimates for Steris’ Q4 2019 earnings at $1.39 EPS, Q1 2020 earnings at $1.09 EPS, Q2 2020 earnings at $1.22 EPS and Q4 2020 earnings at $1.53 EPS.
Several other research firms have also commented on STE. Zacks Investment Research lowered Steris from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. KeyCorp upped their target price on Steris from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. JMP Securities upped their target price on Steris from $113.00 to $125.00 and gave the company a “market outperform” rating in a research note on Thursday, August 9th. Finally, Stephens reiterated a “buy” rating and issued a $125.00 target price on shares of Steris in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Steris has a consensus rating of “Buy” and a consensus target price of $115.00.
Steris (NYSE:STE) last released its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.02. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $659.14 million. Steris had a return on equity of 12.15% and a net margin of 11.72%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share.
Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its position in shares of Steris by 118.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 909 shares of the medical equipment provider’s stock worth $104,000 after buying an additional 492 shares during the period. First Hawaiian Bank purchased a new stake in shares of Steris in the third quarter worth about $106,000. Point72 Hong Kong Ltd purchased a new stake in shares of Steris in the second quarter worth about $116,000. Fort L.P. purchased a new stake in shares of Steris in the second quarter worth about $121,000. Finally, Parallel Advisors LLC boosted its position in shares of Steris by 480.4% in the third quarter. Parallel Advisors LLC now owns 1,364 shares of the medical equipment provider’s stock worth $156,000 after buying an additional 1,129 shares during the period. 89.52% of the stock is owned by hedge funds and other institutional investors.
In other Steris news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $120.50, for a total transaction of $1,205,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Karen L. Burton sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $114.39, for a total value of $148,707.00. The disclosure for this sale can be found here. Insiders sold 45,800 shares of company stock valued at $5,464,727 over the last quarter. Insiders own 2.38% of the company’s stock.
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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