Nisa Investment Advisors LLC raised its stake in Steris PLC (NYSE:STE) by 134.6% during the third quarter, Holdings Channel reports. The institutional investor owned 6,100 shares of the medical equipment provider’s stock after purchasing an additional 3,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Steris were worth $698,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of STE. First Hawaiian Bank bought a new position in shares of Steris during the 3rd quarter valued at $106,000. Point72 Hong Kong Ltd bought a new position in shares of Steris during the 2nd quarter valued at $116,000. Fort L.P. bought a new position in shares of Steris during the 2nd quarter valued at $121,000. Centaurus Financial Inc. bought a new position in shares of Steris during the 2nd quarter valued at $184,000. Finally, ARP Americas LP bought a new position in shares of Steris during the 2nd quarter valued at $212,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on STE. Zacks Investment Research lowered shares of Steris from a “hold” rating to a “sell” rating in a report on Monday, August 6th. KeyCorp increased their target price on shares of Steris from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. JMP Securities increased their target price on shares of Steris from $113.00 to $125.00 and gave the company a “market outperform” rating in a report on Thursday, August 9th. Finally, Stephens reaffirmed a “buy” rating and set a $125.00 target price on shares of Steris in a report on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Steris currently has a consensus rating of “Buy” and an average target price of $100.86.
Steris (NYSE:STE) last announced its quarterly earnings results on Wednesday, August 8th. The medical equipment provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The business had revenue of $638.76 million during the quarter, compared to analysts’ expectations of $638.63 million. Steris had a net margin of 11.42% and a return on equity of 11.80%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. Research analysts expect that Steris PLC will post 4.71 earnings per share for the current year.
In other Steris news, VP Karen L. Burton sold 1,300 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $114.39, for a total transaction of $148,707.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.38% of the company’s stock.
STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
Recommended Story: How Investors Use a Balance Sheet
Want to see what other hedge funds are holding STE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steris PLC (NYSE:STE).
Receive News & Ratings for Steris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steris and related companies with MarketBeat.com's FREE daily email newsletter.