Piper Sandler Reiterates Neutral Rating on STERIS (STE)

Piper Sandler analyst Jason Bednar reiterated a Neutral rating and $225.00 price target on STERIS (NYSE: STE).

The analyst commented, "We're updating our STE model today to account for the historical restatements that management provided in conjunction with its recent FQ4 results. We're also updating our balance sheet and interest expense assumptions to reflect the Dental sale that was finalized last week (end of May), including ~$800M in proceeds that were deployed to debt reduction a month earlier than we originally forecasted. Note we also made minor tweaks to opex spending for the year to offset what was otherwise a $0.02 benefit in our model from the earlier debt paydown, keeping our FY'25 and FY'26 EPS forecasts of $9.15 and $10.07, respectively, unchanged. No modifications were made to our forward revenue projections."

For an analyst ratings summary and ratings history on STERIS click here. For more ratings news on STERIS click here.

Shares of STERIS closed at $226.85 yesterday.

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