JMP Securities Believes Steris Corp (NYSE: STE) Won’t Stop Here

By Ryan Adsit

JMP Securities analyst David Turkaly reiterated a Buy rating on Steris Corp (STEResearch Report) yesterday and set a price target of $135. The company’s shares opened today at $120.54, close to its 52-week high of $123.50.

Turkaly said:

“We reiterate our Market Outperform rating on STERIS and price target of $135 following the release of F3Q19 results. STE announced quarterly results following Monday’s close, and will hold its call at 10 a.m. ET today; we will look for more color on guidance, as well as revenue and earnings drivers at that time. Our $135 price target is based on 23-24x our CY20 EPS estimate of $5.70. Our multiple reflects a slight discount to a group of mid-to-high single-digit growing, mid- cap MedTech peers.”

According to, Turkaly is a 4-star analyst with an average return of 16.1% and a 55.7% success rate. Turkaly covers the Healthcare sector, focusing on stocks such as Apyx Medical Corporation, Haemonetics Corp, and Electrocore Llc.

Currently, the analyst consensus on Steris Corp is a Moderate Buy with an average price target of $130.50, representing an 8.3% upside. In a report released yesterday, Stephens also reiterated a Buy rating on the stock with a $135 price target.

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The company has a one-year high of $123.50 and a one-year low of $85.40. Currently, Steris Corp has an average volume of 452.5K.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.

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STERIS Plc engages in the provision of infection prevention and other procedural products and services. It operates through the following segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies.