Premier Fund Managers Ltd Increases Position in STERIS plc (NYSE:STE)

Premier Fund Managers Ltd boosted its holdings in STERIS plc (NYSE:STE) by 15.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 230,000 shares of the medical equipment provider’s stock after purchasing an additional 30,000 shares during the period. STERIS comprises 2.0% of Premier Fund Managers Ltd’s portfolio, making the stock its 24th largest position. Premier Fund Managers Ltd owned 0.23% of STERIS worth $54,967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of STERIS in the 3rd quarter valued at approximately $25,000. Central Pacific Bank Trust Division acquired a new stake in STERIS in the third quarter valued at $28,000. Quent Capital LLC boosted its stake in STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares during the last quarter. Versant Capital Management Inc grew its holdings in STERIS by 2,262.5% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 181 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of STERIS by 154.7% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. KeyCorp lifted their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Stephens reiterated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Monday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Trading Down 2.1 %

NYSE:STE opened at $211.98 on Wednesday. The firm has a market capitalization of $20.92 billion, a P/E ratio of 48.40 and a beta of 0.85. The business has a 50 day simple moving average of $229.80 and a 200 day simple moving average of $228.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts predict that STERIS plc will post 9.15 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.08%. STERIS’s dividend payout ratio is presently 52.05%.

STERIS Company 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.