Steris PLC (NYSE:STE) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,932,600 shares, a decline of 5.3% from the June 15th total of 2,039,900 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily volume of 567,900 shares, the days-to-cover ratio is presently 3.4 days.

A number of equities research analysts recently issued reports on STE shares. JMP Securities boosted their target price on shares of Steris from $135.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, May 22nd. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. KeyCorp lifted their price target on shares of Steris from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Stephens reaffirmed a “hold” rating and set a $17.00 price target on shares of Capstar Financial in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $148.20.

Shares of STE stock opened at $150.34 on Tuesday. The firm has a market capitalization of $12.64 billion, a PE ratio of 30.74 and a beta of 1.00. The company has a current ratio of 2.27, a quick ratio of 1.82 and a debt-to-equity ratio of 0.37. Steris has a fifty-two week low of $99.14 and a fifty-two week high of $154.09. The firm’s 50 day simple moving average is $147.15.

Steris (NYSE:STE) last announced its quarterly earnings results on Monday, May 13th. The medical equipment provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.09. The firm had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $738.87 million. Steris had a net margin of 10.93% and a return on equity of 13.34%. Steris’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. On average, research analysts anticipate that Steris will post 5.37 earnings per share for the current fiscal year.

In related news, insider Kathleen Bardwell sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $147.07, for a total value of $1,029,490.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Tokich sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $143.70, for a total transaction of $3,161,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 244,145 shares of company stock valued at $33,121,338. 2.36% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of STE. Norges Bank acquired a new position in shares of Steris during the fourth quarter worth $96,648,000. William Blair Investment Management LLC acquired a new position in shares of Steris during the first quarter worth $102,859,000. AJO LP lifted its position in shares of Steris by 4,952.8% during the first quarter. AJO LP now owns 504,922 shares of the medical equipment provider’s stock worth $64,645,000 after purchasing an additional 494,929 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Steris by 15,298.7% during the second quarter. Thoroughbred Financial Services LLC now owns 471,354 shares of the medical equipment provider’s stock worth $47,135,000 after purchasing an additional 468,293 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new position in shares of Steris during the first quarter worth $17,528,000. 83.98% of the stock is currently owned by institutional investors and hedge funds.

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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