Steris price target lowered to $240 from $250 at JMP Securities

JMP Securities analyst David Turkaly lowered the firm’s price target on Steris to $240 from $250 but keeps an Outperform rating on the shares. The analyst cites the company’s "rare miss" in Q3 earnings, even though the management’s explanations of some vaccine trends and several timing issues make the headwinds "more palatable". The firm adds that Steris’ largest business segment – healthcare – remained very solid, growing 10% in organic constant currency rate y/y while maintaining a robust backlog.