Steris initiated with a Hold at Jefferies

Jefferies analyst David Windley initiated coverage of Steris (STE) with a Hold rating and $263 price target The next few years will pit the company’s “resilient business against a potential wave of highly disruptive” healthcare policy changes, the analyst tells investors in a research note. The firm says 14M Medicaid and healthcare exchange lives losing coverage likely presents a multi-percent volume headwind for the company.