STE Price Prediction Next Week
Based on the provided data and technical analysis, here is the prediction for STE's stock price next week:
Technical Analysis
- Current price: $219.34
- RSI (14) at 53.01 indicates neutral momentum
- MACD shows positive trend with 2.27 but declining momentum (-0.39 histogram)
- Stock trading above key moving averages (SMA 20: $219.88, SMA 60: $214.01)
- Fibonacci levels suggest:
- Resistance: $225.98 (R1), $229.08 (R2)
- Support: $215.93 (S1), $212.82 (S2)
News Sentiment
- Needham maintains Hold rating with consensus price target of $253.33
- Negative insider sentiment with 55 insiders selling shares recently
- Company narrowed FY25 adjusted EPS guidance to $9.05-$9.15 from $9.05-$9.25
- JMP Securities maintains Buy rating with $265 price target
Price Prediction for Next Week Based on technical indicators and news sentiment:
- Most likely scenario (60% probability): Range-bound trading between $215-$225
- Target price: $222
- Key resistance at $225.98 (Fibonacci R1)
- Key support at $215.93 (Fibonacci S1)
Trading Recommendation HOLD - Current technical setup suggests consolidation phase. While long-term outlook remains positive based on analyst consensus, short-term negative insider sentiment and narrowed guidance warrant caution. Better entry points may emerge if price tests support levels.
STE Similar Chart Price Prediction
The price of STE is predicted to go up 5.33%, based on the high correlation periods with BECN. The similarity of these two price pattern on the periods is 98.19%.
STE
BECN
Up: 5.33%Similarity: 98.19%
STE Revenue Forecast
STE EPS Forecast
STE FAQs
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STE VS S&P500
Investor concerns about potential ethylene oxide regulations are overblown. Regulators won't allow medical device shortages to occur, and Steris can adapt to changes in the longer term.
Steris should benefit from greater surgery demands from aging baby boomers who require increasingly complex procedures.
An emphasis on healthy life expectancy could increase the prevalence of joint replacements earlier in life, with subsequent repairs and replacements driving demand for device sterilization.
STE Analyst's Forecast
Jason Bednar
Piper Sandler
Hold → Buy
2024-10-24
Price Target
$230 → $260
Upside
+14.13%
Piper Sandler upgraded Steris to Overweight from Neutral with a price target of $260, up from $230. The upgrade is more a call that the negativity surrounding healthcare equipment and ethylene oxide litigation risk are fully reflected in shares at current valuation levels than it is on the upcoming earnings report, the analyst tells investors in a research note. The firm sees the 12-month risk/reward for Steris shares as attractive with a multiple re-rating looking possible as execution improves and Applied Sterilization Technologies growth accelerates over the coming quarters.
