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 37.24% per annum.
- STE price at the close of January 24, 2025 was $217.01 and was higher than the top border of the primary price channel by $9.76 (4.71%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 222.60% per annum.
- STE price at the close of January 24, 2025 was inside the secondary price channel.
- 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: August 27, 2024
End date: January 15, 2025
a = 7.6298
b = -0.0013
s = 0.0159
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0013) – 1
= -37.24%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0159) – 1
= 6.56%
August 27, 2024 calculations
Top border of price channel:
Exp(Y1,154)
= Exp(a + b × X1,154 + 2 × s)
= Exp(a + b × 1,674 + 2 × s)
= Exp(7.6298 + -0.0013 × 1,674 + 2 × 0.0159)
= Exp(5.5254)
= $250.98
Bottom border of price channel:
Exp(Y1,154)
= Exp(a + b × X1,154 – 2 × s)
= Exp(a + b × 1,674 – 2 × s)
= Exp(7.6298 + -0.0013 × 1,674 – 2 × 0.0159)
= Exp(5.4618)
= $235.52
January 15, 2025 calculations
Top border of price channel:
Exp(Y1,250)
= Exp(a + b × X1,250 + 2 × s)
= Exp(a + b × 1,815 + 2 × s)
= Exp(7.6298 + -0.0013 × 1,815 + 2 × 0.0159)
= Exp(5.3454)
= $209.65
Bottom border of price channel:
Exp(Y1,250)
= Exp(a + b × X1,250 – 2 × s)
= Exp(a + b × 1,815 – 2 × s)
= Exp(7.6298 + -0.0013 × 1,815 – 2 × 0.0159)
= Exp(5.2819)
= $196.74
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 37.24% per annum.
- STE price at the close of January 24, 2025 was $217.01 and was higher than the top border of the primary price channel by $9.76 (4.71%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: January 2, 2025
End date: January 24, 2025
a = -0.4743
b = 0.0032
s = 0.0108
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0032) – 1
= 222.60%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0108) – 1
= 4.43%
January 2, 2025 calculations
Top border of price channel:
Exp(Y1,242)
= Exp(a + b × X1,242 + 2 × s)
= Exp(a + b × 1,802 + 2 × s)
= Exp(-0.4743 + 0.0032 × 1,802 + 2 × 0.0108)
= Exp(5.3298)
= $206.40
Bottom border of price channel:
Exp(Y1,242)
= Exp(a + b × X1,242 – 2 × s)
= Exp(a + b × 1,802 – 2 × s)
= Exp(-0.4743 + 0.0032 × 1,802 – 2 × 0.0108)
= Exp(5.2865)
= $197.65
January 24, 2025 calculations
Top border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(-0.4743 + 0.0032 × 1,824 + 2 × 0.0108)
= Exp(5.4004)
= $221.49
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(-0.4743 + 0.0032 × 1,824 – 2 × 0.0108)
= Exp(5.3571)
= $212.11
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 222.60% per annum.
- STE price at the close of January 24, 2025 was inside the secondary price channel.