1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
Narrow-moat Steris had a good start to its 2022 fiscal year, its first as a combined company with Cantel. We are maintaining our $189 fair value estimate, and we see shares as moderately overvalued after the stock’s 12% run since May.
Steris is an Ireland-domiciled medical device company focused on sterilization services and infection prevention. The company is the global leader in contract sterilization services, ensuring the safe delivery of single-use and implantable medical equipment to hospitals around the world. Additionally, Steris sells sterilizers, washer-disinfectors, and other decontamination equipment and supplies for use by care provider facilities and in biopharma manufacturing sites. Domiciled in the United States before its 2015 inversion to Ireland, the firm continues to derive roughly 70% of revenue from its U.S. operations, 10% from the United Kingdom, and the remaining 20% from other international regions.
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