Steris PLC

STE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$466.00	Xhbqncw	Qlftfsqj

Steris Has Steady Fiscal Second Quarter With Cantel Integration Ongoing; Maintain $189 FVE

Aaron Degagne

Nov 4, 2021

Narrow-moat Steris’ fiscal second-quarter earnings beat consensus aggregated by FactSet, though results didn't quite meet our higher bar. We are maintaining our $189 fair value estimate. The slightly disappointing results, from our perspective, were offset in our model by time value of money, and some variability in the ongoing integrations of Cantel and Key. Shares still look moderately overvalued to us even after the 4% decline in the stock price on Nov. 3.

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