SGL Investment Advisors Inc. Purchases Shares of 10,949 STERIS plc (NYSE:STE)

SGL Investment Advisors Inc. acquired a new position in STERIS plc (NYSE:STE) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 10,949 shares of the medical equipment provider’s stock, valued at approximately $2,422,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its position in 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 worth $1,414,453,000 after buying an additional 778,613 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of STERIS by 7,418.7% during the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock worth $75,132,000 after purchasing an additional 305,651 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of STERIS by 29.7% during the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after purchasing an additional 263,383 shares during the last quarter. American Century Companies Inc. boosted its position in shares of STERIS by 1,946.3% in the 2nd quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock valued at $59,344,000 after purchasing an additional 257,101 shares during the period. Finally, Swedbank AB purchased a new position in STERIS in the 3rd quarter worth about $28,251,000. 94.69% of the stock is currently owned by institutional investors.

STERIS Trading Down 0.7 %

Shares of NYSE:STE opened at $215.89 on Monday. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The firm has a fifty day moving average price of $222.94 and a 200 day moving average price of $227.73. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $21.31 billion, a PE ratio of 49.29 and a beta of 0.83.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 EPS. Analysts expect that STERIS plc will post 9.1 EPS for the current fiscal year.

STERIS Dividend Announcement

The company 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 1.06%. STERIS’s payout ratio is presently 52.05%.

Analyst Ratings Changes

A number of research firms have commented on STE. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Finally, KeyCorp increased their price target 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and an average target price of $262.50.

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.