Core Insights - STERIS reported strong Q3 2025 results, with revenues increasing nearly 10% year-over-year to $1.46 billion and adjusted earnings per share rising by 15.4% to $2.47, both exceeding analyst expectations [1] - The company raised its full-year financial outlook, projecting adjusted earnings per share in the range of $10.15 to $10.30 [1] Market Reaction - STERIS shares jumped 8.6% in the morning session, indicating that the market views the news as significant, despite the stock's historical low volatility with only four moves greater than 5% in the past year [3] - The stock has increased by 29.6% since the beginning of the year, reaching a new 52-week high at $262.29 per share [5] Industry Context - A recent national security investigation by the U.S. Commerce Department into medical equipment and devices has raised concerns about potential tariffs, which could impact the industry significantly [4] - The investigation aims to determine if imports of medical items pose a national security risk, potentially leading to new import duties that could affect supply chains and costs for major manufacturers [4]