Steris Plc (STE) Announces Earnings Results, Misses Estimates By $0.01 EPS

Steris Plc (NYSE:STE) announced its quarterly earnings results on Wednesday. The medical equipment provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01), Bloomberg Earnings reports. Steris Plc had a net margin of 4.63% and a return on equity of 11.39%. The business had revenue of $634.20 million for the quarter, compared to analysts’ expectations of $629.02 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Steris Plc updated its FY18 guidance to $3.96-4.09 EPS.

A number of research analysts recently issued reports on STE shares. Zacks Investment Research upgraded Steris Plc from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Tuesday, July 11th. BidaskClub downgraded Steris Plc from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Raymond James Financial, Inc. boosted their price target on Steris Plc from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, KeyCorp restated a “buy” rating and set a $91.00 price target on shares of Steris Plc in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $93.25.

In other Steris Plc news, Director Mohsen Sohi sold 2,744 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $85.98, for a total transaction of $235,929.12. Following the completion of the transaction, the director now directly owns 21,816 shares in the company, valued at approximately $1,875,739.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $85.69, for a total transaction of $856,900.00. Following the transaction, the chief executive officer now owns 83,270 shares of the company’s stock, valued at $7,135,406.30. The disclosure for this sale can be found here. Insiders sold 205,086 shares of company stock valued at $17,965,621 in the last quarter. Company insiders own 2.55% of the company’s stock.

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About Steris Plc

STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.

Earnings History for Steris Plc (NYSE:STE)

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