STERIS plc (NYSE:STE) is one of the best medical technology stocks to invest in. On February 5, Citizens reiterated its Outperform rating on STERIS plc (NYSE:STE) and maintained its $280 price target on the stock. The company took this action in reaction to STERIS’ third quarter fiscal 2026 financial results.
STERIS beat revenue expectations by approximately 1% and matched earnings forecasts. Management said growth was strong, with revenue increasing 7.1% over the past year and margins remaining at 44.5%. The fees are expected to cost $55 million in fiscal 2026, but cost controls helped offset the impacts. Despite this, STERIS maintained its free cash flow outlook at $850 million, which analysts view as a strong medical technology position.
Regardless of analyst action, on February 4, STERIS released its third-quarter 2026 earnings in which it reported adjusted earnings per share of $2.53. This figure coincided with Wall Street expectations. Quarterly revenue came in at $1.5 billion, beating estimates of around $1.48 billion. The figure also represents a 9% year-over-year increase, which management said was driven by demand across multiple lines of business.
The company posted organic revenue growth of around 8% in constant currency. This indicates an expansion in underlying demand rather than currency-related gains, management noted. Given this growth, STERIS reaffirmed its full-year fiscal 2026 guidance.
STERIS plc (NYSE:STE) offers medical technology products and services focused on infection prevention and procedural support. Its offering includes sterilizers, surgical tables, automated endoscope reprocessors and operating room integration systems.
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Disclosure: None. This article was originally published in Internal jumpsuit.