Bank of America analyst Erin E. Wilson published a report on Steris STE that reiterated its Buy rating and raised the price objective from $42 to $43.
Bank America reported that, “Steris launched Pathogon, an ultraviolet (UV) disinfection system for the
treatment of surfaces potentially contaminated by health care-associated
pathogens across patient treatment and procedural spaces such as the OR, ER,
and patient rooms. Pathogon is highly mobile and designed to supplement
existing cleaning and disinfection procedures to reduce risks associated with
human error and enhance infection control protocols. The system is priced at
$70,000 with preventative maintenance contracts at an incremental ~$5,000. STE
has launched 32 new innovative products and service offerings over the past 36
months, and while we are making no changes to our EPS estimates, our
conviction is higher. We are raising our PO to $43 (from $42) on an increasingly
diverse portfolio that should drive rebounding revenue growth near term.”
Shares of Steris closed at $39.69 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in