Marks Group Wealth Management Inc Has $8.26 Million Stake in STERIS plc (NYSE:STE)

Marks Group Wealth Management Inc increased its stake in STERIS plc (NYSE:STE) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,039 shares of the medical equipment provider’s stock after purchasing an additional 529 shares during the quarter. Marks Group Wealth Management Inc’s holdings in STERIS were worth $8,256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STE. Massachusetts Financial Services Co. MA raised its position in shares of STERIS by 13.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after purchasing an additional 778,613 shares during the period. Assenagon Asset Management S.A. grew its stake in STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock valued at $75,132,000 after buying an additional 305,651 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after acquiring an additional 282,387 shares during the period. Impax Asset Management Group plc lifted its position in STERIS by 29.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after acquiring an additional 263,383 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in STERIS by 1,946.3% during the second quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock valued at $59,344,000 after acquiring an additional 257,101 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on STE. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Stephens reissued an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Stock Performance

STE opened at $227.44 on Wednesday. The stock’s 50 day simple moving average is $233.36 and its 200-day simple moving average is $227.60. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The stock has a market cap of $22.43 billion, a PE ratio of 56.44 and a beta of 0.85. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. Sell-side analysts forecast that STERIS plc will post 9.02 EPS for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be paid 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 1.00%. STERIS’s payout ratio is currently 56.58%.

Insider Buying and Selling

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 of the company’s stock, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now directly owns 582 shares of the company’s stock, valued at $139,493.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

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.