Steris (STE) has disclosed a new risk, in the Share Price & Shareholder Rights category.
Steris faces a potential risk associated with its share repurchase program, authorized on May 3, 2023, which allows for the buyback of up to $500 million in company shares. With no specific end date and the ability to start, pause, or stop repurchases at any time, there is a risk of market perception of the company’s financial health being influenced by these activities. Moreover, no repurchases had been made in the first nine months of fiscal 2024 under the new program, which could raise questions about the company’s commitment to the program or its cash flow management. This situation could affect investor confidence and, consequently, Steris’s market value.
The average STE stock price target is $237.60, implying 5.94% upside potential.
To learn more about Steris’ risk factors, click here.
