STERIS plc (STE)
Steris Corporation is an American Irish-domiciled medical equipment company specializing in sterilization and surgical products for the US healthcare system.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 6.89% per annum.
- STE price at the close of April 29, 2025 was $224.04 and was higher than the top border of the primary price channel by $29.68 (15.27%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 14.35% per annum.
- STE price at the close of April 29, 2025 was lower than the bottom border of the secondary price channel by $0.28 (0.13%). This indicates a possible reversal in the secondary trend direction.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of STE price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: April 9, 2021
End date: June 1, 2023
a = 5.4491
b = -0.0002
s = 0.0889
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -6.89%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0889) – 1
= 42.69%
April 9, 2021 calculations
Top border of price channel:
Exp(Y237)
= Exp(a + b × X237 + 2 × s)
= Exp(a + b × 344 + 2 × s)
= Exp(5.4491 + -0.0002 × 344 + 2 × 0.0889)
= Exp(5.5595)
= $259.70
Bottom border of price channel:
Exp(Y237)
= Exp(a + b × X237 – 2 × s)
= Exp(a + b × 344 – 2 × s)
= Exp(5.4491 + -0.0002 × 344 – 2 × 0.0889)
= Exp(5.2040)
= $182.00
June 1, 2023 calculations
Top border of price channel:
Exp(Y777)
= Exp(a + b × X777 + 2 × s)
= Exp(a + b × 1,127 + 2 × s)
= Exp(5.4491 + -0.0002 × 1,127 + 2 × 0.0889)
= Exp(5.4063)
= $222.81
Bottom border of price channel:
Exp(Y777)
= Exp(a + b × X777 – 2 × s)
= Exp(a + b × 1,127 – 2 × s)
= Exp(5.4491 + -0.0002 × 1,127 – 2 × 0.0889)
= Exp(5.0508)
= $156.14
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 6.89% per annum.
- STE price at the close of April 29, 2025 was $224.04 and was higher than the top border of the primary price channel by $29.68 (15.27%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: August 26, 2022
End date: November 6, 2024
a = 4.8693
b = 0.0004
s = 0.0632
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 14.35%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0632) – 1
= 28.79%
August 26, 2022 calculations
Top border of price channel:
Exp(Y586)
= Exp(a + b × X586 + 2 × s)
= Exp(a + b × 848 + 2 × s)
= Exp(4.8693 + 0.0004 × 848 + 2 × 0.0632)
= Exp(5.3072)
= $201.79
Bottom border of price channel:
Exp(Y586)
= Exp(a + b × X586 – 2 × s)
= Exp(a + b × 848 – 2 × s)
= Exp(4.8693 + 0.0004 × 848 – 2 × 0.0632)
= Exp(5.0543)
= $156.69
November 6, 2024 calculations
Top border of price channel:
Exp(Y1,138)
= Exp(a + b × X1,138 + 2 × s)
= Exp(a + b × 1,651 + 2 × s)
= Exp(4.8693 + 0.0004 × 1,651 + 2 × 0.0632)
= Exp(5.6021)
= $271.01
Bottom border of price channel:
Exp(Y1,138)
= Exp(a + b × X1,138 – 2 × s)
= Exp(a + b × 1,651 – 2 × s)
= Exp(4.8693 + 0.0004 × 1,651 – 2 × 0.0632)
= Exp(5.3492)
= $210.43
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 14.35% per annum.
- STE price at the close of April 29, 2025 was lower than the bottom border of the secondary price channel by $0.28 (0.13%). This indicates a possible reversal in the secondary trend direction.