Steris shares could jump 20 pct to 30 pct -paper
NEW YORK |
NEW YORK Oct 4 (Reuters) - More hospital spending, rising demand for sterilization products and an aging population could propel shares of Steris Corp (STE.N) (STE.N) 20 percent to 30 percent higher, Barron's reported on Sunday.
The health problems of aging baby boomers could drive demand for surgical procedures and hospital services in coming years, a boost for Steris, which sells sterilization services for medical devices.
Assuming some recovery in the capital-equipment business, Steris shares could reach $40 in a year, Jason Ronovech, co-manager of Paradigm Value Fund, told Barron's.
Steris shares fell 1.4 percent on Friday to $29.23 on the New York Stock Exchange. (Reporting by Deepa Seetharaman; Editing by Leslie Adler)
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