STERIS plc (NYSE:STE) Shares Purchased by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC raised its position in STERIS plc (NYSE:STE) by 6.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,068 shares of the medical equipment provider’s stock after purchasing an additional 195 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in STERIS were worth $744,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in STERIS in the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division purchased a new position in STERIS during the 3rd quarter valued at about $28,000. Quent Capital LLC increased its holdings 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 in the last quarter. Headlands Technologies LLC purchased a new position in STERIS during the 1st quarter valued at about $36,000. Finally, Versant Capital Management Inc increased 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 valued at $41,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

STERIS Trading Down 0.5 %

STE opened at $221.19 on Friday. The firm has a market capitalization of $21.83 billion, a P/E ratio of 50.50 and a beta of 0.85. The firm’s 50 day moving average is $231.12 and its 200-day moving average is $228.20. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

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

STERIS Dividend Announcement

The business also recently declared 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 dividend yield of 1.03%. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Insider Buying and Selling

In other news, CFO Michael J. Tokich sold 23,332 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.14% of the company’s stock.

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.