Consolidated Planning Corp Boosts Stock Holdings in STERIS plc (NYSE:STE)

Consolidated Planning Corp lifted its stake in STERIS plc (NYSE:STE) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,743 shares of the medical equipment provider’s stock after purchasing an additional 1,758 shares during the period. Consolidated Planning Corp’s holdings in STERIS were worth $3,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STE. Bleakley Financial Group LLC grew its position in shares of STERIS by 8.7% during the third quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 134 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of STERIS by 8.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after purchasing an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of STERIS by 3.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock valued at $23,909,000 after purchasing an additional 3,342 shares in the last quarter. BDF Gestion purchased a new stake in shares of STERIS during the 2nd quarter worth $2,644,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of STERIS by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after purchasing an additional 120,616 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STE has been the subject of a number of recent analyst reports. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Stephens reiterated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Stock Performance

Shares of STE opened at $215.50 on Friday. The company’s 50 day simple moving average is $232.73 and its 200-day simple moving average is $227.52. The firm has a market cap of $21.25 billion, a PE ratio of 49.20 and a beta of 0.85. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.03. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $2.03 EPS. STERIS’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts predict that STERIS plc will post 9.02 EPS for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.06%. The ex-dividend date is Tuesday, November 19th. STERIS’s dividend payout ratio is presently 52.05%.

Insiders Place Their Bets

In other news, CFO Michael J. Tokich sold 23,332 shares of the business’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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.14% of the stock is owned by insiders.

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.