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Last $69.13 USD
Change Today -0.51 / -0.73%
Volume 327.4K
STE On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

steris corp (STE) Snapshot

Open
$69.35
Previous Close
$69.64
Day High
$70.17
Day Low
$69.02
52 Week High
04/23/15 - $71.39
52 Week Low
08/4/14 - $49.78
Market Cap
4.1B
Average Volume 10 Days
487.8K
EPS TTM
$2.74
Shares Outstanding
59.7M
EX-Date
06/1/15
P/E TM
25.2x
Dividend
$0.92
Dividend Yield
1.30%
Current Stock Chart for STERIS CORP (STE)

steris corp (STE) Related Businessweek News

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steris corp (STE) Details

STERIS Corporation develops, manufactures, and markets infection prevention, contamination control, microbial reduction, and procedural support products and services for healthcare, pharmaceutical, scientific, research, industrial, and governmental customers worldwide. The company’s Healthcare segment offers steam, vaporized hydrogen peroxide, and ethylene oxide sterilizers; liquid chemical sterilant processing systems; washer/disinfector systems; general and specialty surgical tables; surgical and examination lights; equipment management systems; operating room storage cabinets; warming cabinets; scrub sinks; gastrointestinal endoscopy accessories; connectivity solutions, such as operating room integration, workflow, patient tracking, and instrument management; cleaning chemistries and sterility assurance products; and cleansing products, including hard surface disinfectants, and skin care and hand hygiene solutions. This segment also provides maintenance programs and repair services; sterilization and surgical management consulting services; information management and decision support services; and other support services comprising construction and facility planning, engineering support, device testing, customer education, hand hygiene process excellence, asset management/planning, and the sale of replacement parts. Its Life Sciences segment offers formulated cleaning chemistries, vaporized hydrogen peroxide generators; sterilizers; and high-purity water equipment, as well as various preventive maintenance programs and repair services. The company’s STERIS Isomedix Services segment provides contract processing services using gamma irradiation and ethylene oxide technologies; and microbial reduction services. It sells its products to end users, dealers, and distributors. The company was formerly known as Innovative Medical Technologies and changed its name to STERIS Corporation in 1987. STERIS Corporation was founded in 1985 and is headquartered in Mentor, Ohio.

steris corp (STE) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $788.5K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $351.8K
Senior Vice President and Group President of ...
Total Annual Compensation: $401.6K
Senior Vice President and Group President of ...
Total Annual Compensation: $321.3K
Senior Vice President of Infection Prevention...
Total Annual Compensation: $312.6K
Compensation as of Fiscal Year 2014.

steris corp (STE) Key Developments

Steris Corp. Enters into Note Purchase Agreement

On May 15, 2015, STERIS Corporation entered into a note purchase agreement with various institutional investors, providing for the private issuance and sale on the same date by the company of $350 million in aggregate principal amount of the company’s series A senior notes (the senior notes). The company’s obligations under the note purchase agreement and the senior notes are unsecured but guaranteed by certain of the company’s domestic subsidiaries pursuant to an affiliate guaranty. The net proceeds of the sales will be used to repay debt and for other corporate purposes. On May 15, 2015, the company repaid all outstanding debt under its bank credit facility. A total of $690 million of fixed rate debt of the company was outstanding after giving effect to the sale of the senior notes. The weighted average maturity and interest rates of the senior notes are approximately 12.1 years and 3.56% respectively. The senior notes are payable in full together with accrued and unpaid interest at their specified maturities or are payable in whole or in part on such earlier dates as may be required or permitted by the terms of the note purchase agreement. Interest on the senior notes accrues from May 15, 2015 and is payable in arrears, beginning in November, 2015 and every 6 months thereafter. Depending on the circumstances, a prepayment penalty may be payable for prepayments made prior to stated maturity. The note purchase agreement contains customary representations and warranties and covenants, including restrictions on liens, limitations on dispositions, leverage limitations and interest coverage requirements. The note purchase agreement also contains customary events of default, which include payment and other covenant defaults, breaches of representations and warranties, certain defaults in respect of other material indebtedness and certain ERISA defaults or failures to pay money judgments. Upon the occurrence of any of these events the company’s payment obligations under the senior notes could be accelerated. As a result of the execution of the note purchase agreement and issuance of the senior notes, under the terms of the amended and Restated 364-Day Bridge credit agreement dated March 31, 2015 of the company and New STERIS Limited with Bank of America, N.A. as administrative agent and the lenders party thereto, the commitments of the Bridge Agreement lenders were reduced by $297.45 million. This resulted in new Bridge Agreement commitments of $232.55 million and $340 million.

Steris Corp. Announces Financial Results for the Fourth Quarter and Full Year Ended March 31, 2015; Provides Standalone Earnings Guidance for Fiscal 2016

Steris Corp. announced financial results for the fourth quarter and full year ended March 31, 2015. For the quarter, the company reported revenue increased 8% to $501.6 million compared with $465.3 million in the fourth quarter of fiscal 2014, driven by growth in all three segments. Net income was $41.4 million, or $0.69 per diluted share, compared with net income of $38.9 million, or $0.65 per diluted share in the fourth quarter of fiscal 2014. Adjusted net income was $59.3 million, or $0.98 per diluted share, compared with adjusted net income for the previous year of $54.2 million, or $0.91 per diluted share. Capital spending for the quarter was $28.5 million. For the year, the company's revenue increased 14% to $1.85 billion compared with $1.62 billion in fiscal 2014. Net income was $135.1 million or $2.25 per diluted share, compared with net income of $129.4 million or $2.17 per diluted share in fiscal 2014. Adjusted net income for fiscal 2015 increased 21% to $179.6 million or $2.99 per diluted share compared with $147.9 million or $2.48 per diluted share in fiscal 2014. Net cash provided by operations was $246.0 million, compared with $209.6 million in fiscal 2014. Free cash flow was $161.6 million compared with $128.0 million in the prior year. The increase in free cash flow is primarily due to increased net income and improvements in working capital. The company spent somewhat less CapEx in fiscal 2015 than it had anticipated. The company expects standalone revenue growth in the range of 5-6% for the fiscal 2016. Adjusted earnings per diluted share are anticipated to be in the range of $3.15 to $3.30 for the full fiscal year. The adjusted effective tax rate is anticipated to be approximately 35%. Fiscal 2016 free cash flow is anticipated to be approximately $150.0 million. Capital expenditures are anticipated to be approximately $105.0 million, reflecting the impact of acquisitions, continued expansion within Isomedix, new product development and general maintenance and repair for existing facilities.

Steris Corp. Approves Quarterly Dividend Payable on June 25, 2015

Steris Corp. announced that its Board of Directors has authorized a quarterly dividend of $0.23 per common share. The dividend is payable June 25, 2015 to shareholders of record at the close of business on June 3, 2015.

 

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Industry Analysis

STE

Industry Average

Valuation STE Industry Range
Price/Earnings 31.0x
Price/Sales 2.2x
Price/Book 3.9x
Price/Cash Flow 30.8x
TEV/Sales 1.8x
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