This medical device company is based in Ireland, and it offers a very solid idea for growth stock investors looking to add health care stocks. Steris PLC (NYSE: STE) provides infection prevention and other procedural products and services worldwide.
Its Healthcare segment offers cleaning chemistries and sterility assurance products, including accessories for gastrointestinal procedures, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department. It offers equipment used directly in the operating room, including surgical tables, lights and connectivity solutions, as well as equipment management services.
Steris also provides capital equipment installation, maintenance, upgradation, repair and troubleshooting services; preventive maintenance programs and repair services; instrument and endoscope repair and maintenance services; and custom process improvement consulting and outsourced instrument sterile processing services. These products and services are offered to acute care hospitals and other health care settings.
Its Applied Sterilization Technologies segment provides contract sterilization and testing services for medical device and pharmaceutical manufacturers through a network of approximately 50 contract sterilization and laboratory facilities.
The Life Sciences segment designs, manufactures and sells consumable products, such as formulated cleaning chemistries, barrier and sterility assurance products, steam and vaporized hydrogen peroxide sterilizers and washer disinfectors.
Shareholders currently receive a 0.74% dividend. The anticipated increase in the dividend is from $0.40 per share to $0.43.
Needham has set a $233 price target. The consensus target is $228.40, and the stock traded near $216.00 on Monday.
This is the ultimate consumer staples type play for worried investors. Tyson Foods Inc. (NYSE: TSN) operates as a food company worldwide. It processes live fed cattle and live market hogs; fabricates dressed beef and pork carcasses into primal and subprimal meat cuts, as well as case ready beef and pork, and fully-cooked meats; raises and processes chickens into fresh, frozen and value-added chicken products; and supplies poultry breeding stock. It also sells specialty products, such as hides and meats.
Tyson also manufactures and markets frozen and refrigerated food products, including ready-to-eat sandwiches, flame-grilled hamburgers, Philly steaks, pepperoni, bacon, breakfast sausage, turkey, lunchmeat, hot dogs, flour and corn tortilla products, appetizers, snacks, prepared meals, ethnic foods, side dishes, meat dishes, breadsticks and processed meats under the Jimmy Dean, Hillshire Farm, Ball Park, Wright, State Fair, Aidells and Gallo Salame brands. The company also offers its products under Tyson and BP brands.
It sells its products through its sales staff to grocery retailers, grocery wholesalers, meat distributors, warehouse club stores, military commissaries, industrial food processing companies, chain restaurants or their distributors, live markets, international export companies and domestic distributors that serve restaurants and foodservice operations, such as plant and school cafeterias, convenience stores, hospitals and other vendors, as well as through independent brokers and trading companies.
The company currently pays a 2.50% dividend. The $0.445 per share is expected to rise to $0.47.
Argus has a $92 price target. The consensus target is just $83.50. The stock popped over 6% to $75.75 after Monday’s very solid second-quarter report.
These five top stocks are rated Buy across Wall Street, and the companies are expected to lift the dividends they pay to shareholders soon. Not only is increasing dividends and returning capital to investors important, but it also shows that the company is doing well and has the earnings and cash flow strength to increase the payouts.
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