Initiating Coverage of Steris With Narrow Moat and Stable Trend Ratings; Fair Value Estimate $98
We are initiating coverage of Steris, a U.K.-based healthcare equipment firm, with narrow moat and stable trend ratings. Our estimate of fair value is $98 per share, putting shares solidly in 3-star territory and implying a multiple of 21 times and 14 times our forecasts for fiscal 2019 adjusted earnings and EBITDA, respectively.Steris is a leading player in the global infection prevention market, providing a mix of equipment and services that ensure the sterilization, disinfection, and deconta...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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