Medical equipment and services company Steris (NYSE: STE). will be reporting results this Monday after the bell. Here’s what you need to know.
STERIS beat analysts’ revenue expectations last quarter, reporting revenues of $1.50 billion, up 9.2% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates.
Is STERIS a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting STERIS’s revenue to grow 7.7% year on year, improving from the 4.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. STERIS has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at STERIS’s peers in the surgical equipment & consumables - diversified segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Zimmer Biomet delivered year-on-year revenue growth of 9.3%, beating analysts’ expectations by 0.9%, and CONMED reported a revenue decline of 1.3%, topping estimates by 2.1%. Zimmer Biomet traded down 13.5% following the results while CONMED was up 1.9%.
Read our full analysis of Zimmer Biomet’s results here and CONMED’s results here.
There has been positive sentiment among investors in the surgical equipment & consumables - diversified segment, with share prices up 6.1% on average over the last month. STERIS is down 8.2% during the same time and is heading into earnings with an average analyst price target of $279.29 (compared to the current share price of $204.28).
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