Bancreek Capital Management LP Purchases 3,218 Shares of STERIS plc (NYSE:STE)

Bancreek Capital Management LP increased its position in shares of STERIS plc (NYSE:STE) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,047 shares of the medical equipment provider’s stock after buying an additional 3,218 shares during the quarter. STERIS accounts for 4.9% of Bancreek Capital Management LP’s portfolio, making the stock its 12th biggest holding. Bancreek Capital Management LP’s holdings in STERIS were worth $7,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Winslow Asset Management Inc. raised its position in shares of STERIS by 0.9% during the 3rd quarter. Winslow Asset Management Inc. now owns 32,598 shares of the medical equipment provider’s stock valued at $7,906,000 after acquiring an additional 290 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of STERIS by 0.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 220,866 shares of the medical equipment provider’s stock valued at $53,569,000 after buying an additional 1,706 shares during the period. Venturi Wealth Management LLC boosted its stake in STERIS by 45.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,837 shares of the medical equipment provider’s stock worth $446,000 after purchasing an additional 574 shares during the period. GDS Wealth Management boosted its stake in STERIS by 8.0% in the 3rd quarter. GDS Wealth Management now owns 55,155 shares of the medical equipment provider’s stock worth $13,377,000 after purchasing an additional 4,063 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in STERIS in the 3rd quarter worth $25,000. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at STERIS

In related 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 value of $5,763,004.00. Following the completion of the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.14% of the company’s stock.

STERIS Stock Performance

STE opened at $222.73 on Wednesday. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The company has a market cap of $21.99 billion, a price-to-earnings ratio of 50.85 and a beta of 0.85. The company’s 50 day moving average is $231.90 and its 200 day moving average is $228.11. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business posted $2.03 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Tuesday, November 19th. STERIS’s payout ratio is presently 52.05%.

Analyst Ratings Changes

STE has been the topic of a number of research analyst reports. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Stephens restated an “overweight” rating and set a $260.00 price target on shares of STERIS in a report on Thursday, November 7th. Finally, KeyCorp boosted their price target on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

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.