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STERIS plc (Ireland) ($STE) Stock Forecast: Down 2.5% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is STERIS plc (Ireland)?

STERIS (STE) is a company in the healthcare industry, specializing in healthcare and AST segments. The market sentiment is mixed reflecting macroeconomic concerns.

Why is STERIS plc (Ireland) going down?

STE stock is down 2.5% on Jul 9, 2024 14:36

  • The current downward trend in STE stock may stem from investor wariness of broader economic challenges.
  • Although the AST segment shows strong recovery potential, general economic uncertainties could be outweighing positive outlook.
  • Investors appear to be adopting a cautious stance, analyzing the interplay between STE's business strengths and external economic conditions.

STE Price Chart

STE News

Should You Hold STERIS ( STE ) Stock Now? Here's What to Consider

STERIS' (STE) Healthcare business and strong rebound prospects of the AST segment appear encouraging. However, macroeconomic concerns remain a challenge.

https://www.zacks.com/stock/news/2297541/should-you-hold-steris-ste-stock-now-heres-what-to-consider

News Article Image Should You Hold STERIS  ( STE )  Stock Now? Here's What to Consider

STERIS plc (Ireland) Price History

09.06.2024 - STE Stock was down 2.5%

  • The current downward trend in STE stock may stem from investor wariness of broader economic challenges.
  • Although the AST segment shows strong recovery potential, general economic uncertainties could be outweighing positive outlook.
  • Investors appear to be adopting a cautious stance, analyzing the interplay between STE's business strengths and external economic conditions.

09.04.2024 - STE Stock was up 6.9%

  • The company reported a loss in its fiscal Q4 earnings, aligning with earnings estimates.
  • Despite the reported loss, the stock displayed a bullish movement, suggesting investor focus may be on other positive aspects of the company.
  • The company was downgraded from a "buy" rating to a "hold" rating by an analyst platform, which typically impacts the stock negatively. However, the market movement remained bullish.
  • Investor optimism regarding Steris' competitive strengths and financial metrics could be contributing to the bullish movement despite the mixed earnings report.

09.04.2024 - STE Stock was up 5.1%

  • The company reported a loss of $1.4 million in its fiscal Q4 earnings, which was lower than expectations.
  • Despite the loss, Steris managed to match Q4 earnings estimates, with a slight revenue surprise.
  • The downgrade of Steris from a "buy" rating to a "hold" rating might have initially caused some uncertainty in the market.
  • Investors might have reacted positively to the company's ability to meet earnings estimates and the potential for future growth beyond just revenue and EPS, leading to the bullish movement in the stock price.

08.01.2024 - STE Stock was down 5.0%

  • Despite STERIS (STE) reporting strong Q3 earnings and beating estimates, the stock experienced a bearish movement.
  • The market may have reacted negatively to the fact that the earnings beat was only marginal, with a 2.30% surprise on earnings and a 4.22% surprise on revenues.
  • Investors might have been expecting a more significant beat, leading to disappointment and selling pressure on the stock.
  • It's possible that the market was also influenced by other factors not mentioned in the provided articles, such as broader market trends or investor sentiment towards the healthcare sector.

08.10.2023 - STE Stock was down 6.2%

  • Steris PLC reported Q2 revenues that surpassed estimates, indicating continued momentum in the healthcare business. However, margins were down, which may have contributed to the bearish movement.
  • Despite beating Q2 top and bottom line estimates, Steris PLC reaffirmed its FY23 outlook, which could have disappointed investors and led to the bearish market movement.
  • The earnings summary shows a significant improvement in earnings compared to the same period last year, but the negative EPS in the previous year may have influenced the bearish sentiment.
  • The slight beat in estimated earnings and revenue growth may not have met investors' high expectations, resulting in the bearish movement.

31.06.2023 - STE Stock was down 1.6%

  • The bearish movement in STE's stock today can be attributed to the news of Nisa Investment Advisors LLC increasing its stake in the company. Despite the positive sentiment shown by Nisa Investment Advisors LLC, the market may have interpreted this as a potential overvaluation of the stock, leading to a sell-off. Additionally, the announcement of a dividend hike may have raised concerns about the company's financial health and sustainability of future dividends, further contributing to the bearish movement.

26.05.2023 - STE Stock was up 0.5%

  • Today, STE had a strong bullish movement. This could be due to the following reasons:
  • STE announced the acquisition of surgical instrumentation assets from Becton, Dickinson and Company in a $540 million transaction. This could be seen as a positive move for the company, as it expands their product lineup and could lead to increased revenue.
  • Voya Investment Management LLC raised its position in STE shares during the fourth quarter, which could have increased investor confidence in the company.
  • STE has been growing and deleveraging its balance sheet since the Cantel deal in 2021, which could be seen as a positive sign for investors.
  • The sale of the surgical instrumentation platform by Becton, Dickinson and Company to STE could have been seen as a positive move for both companies, leading to increased investor confidence in STE.

11.04.2023 - STE Stock was up 11.1%

  • STE had a strong bullish movement today.
  • STE beat Q4 earnings and revenue estimates, which led to a positive market sentiment towards the stock.
  • The company's Q1 profit increased from last year and beat Street estimates, indicating a positive outlook for the company.
  • STE's Non-GAAP EPS of $2.30 beats by $0.15, and revenue of $1.38B beats by $110M, which further strengthens the positive sentiment towards the stock.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.