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JimVanMeerten (62.88)

Steris buy signals

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December 17, 2010 – Comments (1) | RELATED TICKERS: STE

This morning I added Steris Corp (STE) to the Barchart Van Meerten New High portfolio.  Steris is a leading provider of infection prevention, contamination prevention, and surgical support systems, products, services, and technologies to healthcare, scientific, research, and industrial Customers throughout the world. The Company has over 4,000 Associates (employees) worldwide, including more than 1,200 direct sales, service, and field support personnel. Customer Support facilities are located in major global market centers with manufacturing operations in theUnited States, Canada, Germany, and Finland.

I bought it for price trends but it just might be an Obama Care recipient.

The stock is on a a tear with a 96% Barchart technical buy signal. It was up in 16 of the last 20 session, 5 of the last 5 and up 12.21% in the last month.  It trades around 37.93 and has a Relative Strength Index of 72.59% and rising.

Wall Street analysts approve and have published 5 buy and 2 hold reports.  They predict a 5.50% increase in sales and 11.70% increase in earnings next year with a 10.00% increase in EPS to be expected annually for at least 5 years.

The general investing public as expressed by Motley Fool CAPS members think the stock will beat the market by a vote of 86 to 14 with the more experienced All Stars voting 31 to 1.  Fool notes that of the 10 articles recently written about the company only 1 has been negative.

I bought the stock because:

1 - 96% Barchart technical buy singal

2 - 16 new highs and up 12.21% in the last month

3 - Wall Street predicts double digit increases in EPS for the next 5 years

4 - Investor sentiment is positive

Jim Van Meerten is an advisor to Marketocracy Capital Managementwho uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or emailJimVanMeerten@gmail.com.

Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog. 

1 Comments – Post Your Own

#1) On December 17, 2010 at 2:52 PM, lemoneater (81.74) wrote:

I wonder what overlap in products STERIS might have with ISRG which I have a few shares in.

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