Medical equipment and services company Steris (NYSE: STE). will be reporting results this Wednesday after the bell. Here’s what to expect.
STERIS beat analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $1.39 billion, up 8.7% year on year. It was a strong quarter for the company, with a solid beat of analysts’ constant currency revenue estimates and an impressive 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, analysts are expecting STERIS’s revenue to grow 7.7% year on year to $1.43 billion, in line with the 7.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.35 per share.
Analysts covering the company have generally 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 five times over the last two years.
Looking at STERIS’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 3%, and iRhythm reported revenues up 30.7%, topping estimates by 4.6%. Intuitive Surgical traded up 13.9% following the results while iRhythm was also up 1.6%.
Read our full analysis of Intuitive Surgical’s results here and iRhythm’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. STERIS is down 1.4% during the same time and is heading into earnings with an average analyst price target of $272.38 (compared to the current share price of $237.32).
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