STERIS plc (NYSE:STE) Shares Acquired by Steph & Co.

Steph & Co. grew its stake in shares of STERIS plc (NYSE:STE) by 51.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,017 shares of the medical equipment provider’s stock after purchasing an additional 344 shares during the quarter. Steph & Co.’s holdings in STERIS were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of STE. Fenimore Asset Management Inc. increased its position in shares of STERIS by 13.1% during the fourth quarter. Fenimore Asset Management Inc. now owns 210,747 shares of the medical equipment provider’s stock worth $46,333,000 after acquiring an additional 24,377 shares during the last quarter. Caden Capital Partners LP increased its holdings in STERIS by 80.0% in the fourth quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock valued at $18,096,000 after buying an additional 36,576 shares during the last quarter. Cullen Investment Group LTD. bought a new stake in STERIS in the fourth quarter valued at about $1,351,000. Cerity Partners LLC increased its holdings in STERIS by 5,199.4% in the fourth quarter. Cerity Partners LLC now owns 65,925 shares of the medical equipment provider’s stock valued at $14,494,000 after buying an additional 64,681 shares during the last quarter. Finally, Perpetual Ltd increased its holdings in STERIS by 9.3% in the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock valued at $9,121,000 after buying an additional 3,437 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on STE shares. StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, May 10th. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 price objective (up from $220.00) on shares of STERIS in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.60.

STERIS Stock Performance

STE stock traded up $0.51 during midday trading on Monday, reaching $218.63. The company had a trading volume of 78,283 shares, compared to its average volume of 491,892. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $218.42 and a 200 day moving average price of $220.68. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $254.00. The firm has a market capitalization of $21.61 billion, a PE ratio of 57.10 and a beta of 0.85.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 earnings per share. Analysts anticipate that STERIS plc will post 9.24 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. STERIS’s dividend payout ratio is presently 54.45%.

Insider Transactions at STERIS

In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares in the company, valued at $2,639,085.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,762 shares of company stock worth $1,798,477. Company insiders own 1.14% of the company’s stock.

About STERIS

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.