STERIS plc (NYSE:STE) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of STERIS plc (NYSE:STE) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 220,866 shares of the medical equipment provider’s stock after purchasing an additional 1,706 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in STERIS were worth $53,569,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. West Coast Financial LLC boosted its stake in shares of STERIS by 2.8% during the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock worth $398,000 after acquiring an additional 45 shares in the last quarter. Taylor Frigon Capital Management LLC grew its holdings in STERIS by 0.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock valued at $1,356,000 after purchasing an additional 46 shares during the last quarter. Mather Group LLC. increased its position in shares of STERIS by 7.6% in the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock valued at $172,000 after buying an additional 54 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of STERIS by 16.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock worth $82,000 after buying an additional 57 shares during the last quarter. Finally, Waterloo Capital L.P. boosted its position in shares of STERIS by 3.2% in the 2nd quarter. Waterloo Capital L.P. now owns 1,916 shares of the medical equipment provider’s stock worth $421,000 after buying an additional 59 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and raised their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. KeyCorp upped their target price on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Trading Down 0.5 %

Shares of STERIS stock opened at $220.12 on Friday. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The business’s fifty day moving average is $230.77 and its two-hundred day moving average is $228.15. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a market cap of $21.73 billion, a PE ratio of 50.26 and a beta of 0.85.

STERIS (NYSE:STE) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.02. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. Analysts anticipate that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.04%. STERIS’s payout ratio is 52.05%.

Insider Buying and Selling

In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by company insiders.

STERIS Profile

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.