Denali Advisors LLC Takes Position in STERIS plc (NYSE:STE)

Denali Advisors LLC acquired a new stake in shares of STERIS plc (NYSE:STE) in the first quarter, HoldingsChannel reports. The institutional investor acquired 300 shares of the medical equipment provider’s stock, valued at approximately $67,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of STERIS by 7.2% in the third quarter. FMR LLC now owns 54,809 shares of the medical equipment provider’s stock worth $12,026,000 after acquiring an additional 3,685 shares during the period. Tower Research Capital LLC TRC grew its holdings in STERIS by 245.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,407 shares of the medical equipment provider’s stock valued at $748,000 after buying an additional 2,422 shares in the last quarter. Bank of Nova Scotia raised its position in shares of STERIS by 24.2% during the third quarter. Bank of Nova Scotia now owns 8,506 shares of the medical equipment provider’s stock valued at $1,866,000 after buying an additional 1,660 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of STERIS by 1.5% in the third quarter. Gotham Asset Management LLC now owns 8,145 shares of the medical equipment provider’s stock worth $1,787,000 after buying an additional 119 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of STERIS by 37.4% in the third quarter. Advisors Asset Management Inc. now owns 1,652 shares of the medical equipment provider’s stock worth $362,000 after buying an additional 450 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the completion of the sale, the senior vice president now owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this link. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the business’s stock in a transaction dated 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. Insiders have sold 7,762 shares of company stock worth $1,798,477 over the last quarter. Insiders own 1.14% of the company’s stock.

STERIS Stock Down 0.4 %

Shares of STERIS stock traded down $0.96 during trading on Wednesday, hitting $217.38. 196,801 shares of the stock traded hands, compared to its average volume of 494,846. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $220.69 and its 200 day simple moving average is $221.28. The firm has a market cap of $21.49 billion, a P/E ratio of 57.16 and a beta of 0.83. STERIS plc has a 52-week low of $195.47 and a 52-week high of $254.00.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm posted $2.30 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts predict that STERIS plc will post 9.24 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Wednesday, June 12th. STERIS’s payout ratio is currently 54.45%.

Analyst Upgrades and Downgrades

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

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.