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Last $69.13 USD
Change Today +0.44 / 0.64%
Volume 426.2K
STE On Other Exchanges
New York
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

steris corp (STE) Snapshot

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52 Week High
04/23/15 - $71.39
52 Week Low
08/4/14 - $49.78
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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; automated 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; 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; washers/disinfectors; 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; laboratory testing services; 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.

7,600 Employees
Last Reported Date: 05/27/15
Founded in 1985

steris corp (STE) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $800.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $391.0K
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: $328.4K
Compensation as of Fiscal Year 2015.

steris corp (STE) Key Developments

Steris Corp., Special/Extraordinary Shareholders Meeting, Jun 11, 2015

Steris Corp., Special/Extraordinary Shareholders Meeting, Jun 11, 2015.

STERIS Corporation to Contest U.S. Federal Trade Commission's Attempt to Block Synergy Health Acquisition

STERIS Corporation and Synergy Health plc have been informed by the U.S. Federal Trade Commission that the FTC intends to seek to block their proposed combination. STERIS and Synergy announced that they will contest the FTC's attempted action, and they welcome a full judicial review of the competitive effects of the combination. Under U.K. Listing Authority requirements, Synergy is required to announce this development even though the companies have not seen the FTC announcement or formal complaint. STERIS and Synergy continue to believe that the combination is procompetitive and in the best interest of all constituents of the two companies, including Customers. The two companies are committed to completing the transaction as expeditiously as possible. In order to ensure sufficient timing to contest the FTC's action, the parties intend to extend the long-stop date for completion of the combination to December 31, 2015, and STERIS expects to extend its Bridge Credit Agreement to that date, as well. Extension of the long-stop date is subject to U.K. court approval, which will be sought as soon as reasonably practicable.

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.


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Valuation STE Industry Range
Price/Earnings 30.5x
Price/Sales 2.2x
Price/Book 3.8x
Price/Cash Flow 30.4x
TEV/Sales 1.8x

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