STERIS plc (STE) Remains in Focus as Analysts Reaffirm Confidence

STERIS plc (NYSE:STE) is one of the best medical technology stocks to invest in. On February 5, Citizens reiterated its Market Outperform rating on STERIS plc (NYSE:STE) and kept the $280 price target on the shares. The firm made this move in reaction to STERIS’s Q3 FY2026 financial results.

STERIS beat revenue expectations by about 1% and matched profit forecasts. Management said growth was strong, with revenue up 7.1% over the past year and margins holding at 44.5%. Tariffs are expected to cost $55 million in FY2026, but cost control helped offset impacts. Despite this, STERIS kept its free cash flow outlook at $850 million, which analysts see as a strong position in medical technology.

Independent of the analyst action, on February 4, STERIS released its Q3 2026 earnings in which it reported adjusted earnings per share of $2.53. This figure matched Wall Street expectations. Quarterly revenue came in at $1.50 billion, exceeding estimates of about $1.48 billion. The figure is also a 9% year over year increase, which management explained was driven by demand across multiple business lines.

The company posted about 8% organic revenue growth on a constant-currency basis. This indicates underlying demand expansion rather than currency-related gains, noted management. Given this growth, STERIS reaffirmed its full-year fiscal 2026 guidance.

STERIS plc (NYSE:STE) provides medical technology products and services focused on infection prevention and procedural support. Its offerings include sterilizers, surgical tables, automated endoscope reprocessors, and operating room integration systems.

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Disclosure: None. This article is originally published at Insider Monkey.