NEW YORK (TheStreet) -- Shares of Steris (STE) are slipping 3.18% to $68.15 on heavy trading volume on Wednesday afternoon after the company posted weaker-than-expected results for the 2016 fiscal fourth quarter.
Before today's market open, the Leicester, U.K.-based maker of medical products reported adjusted earnings of 90 cents per diluted share, below analysts' estimates of $1.04 per share.
Revenue for the quarter was $690.3 million, missing Wall Street's forecasts of $701.9 million.
For fiscal 2017, Steris sees adjusted earnings per diluted share between $3.85 and $4, in line with analysts' expectations.
Analysts are looking for earnings of $3.96 per share.
About 1.54 million of the company's shares were traded so far today compared to its average volume of 510,331 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and solid stock price performance.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: STE