LMR Partners LLP Makes New Investment in STERIS plc (NYSE:STE)

LMR Partners LLP purchased a new position in shares of STERIS plc (NYSE:STE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,072 shares of the medical equipment provider’s stock, valued at approximately $1,473,000.

Several other hedge funds and other institutional investors have also bought and sold shares of STE. Quent Capital LLC increased its stake in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares during the last quarter. TIAA Trust National Association raised its stake in STERIS by 15.6% during the first quarter. TIAA Trust National Association now owns 1,798 shares of the medical equipment provider’s stock worth $404,000 after acquiring an additional 242 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of STERIS in the 1st quarter valued at approximately $1,539,000. Covestor Ltd grew its holdings in shares of STERIS by 745.8% during the 1st quarter. Covestor Ltd now owns 609 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 537 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in STERIS by 3.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,164 shares of the medical equipment provider’s stock worth $3,184,000 after purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 35.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.14% of the company’s stock.

STERIS Price Performance

Shares of STE opened at $217.04 on Tuesday. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 49.55 and a beta of 0.85. The business has a 50-day moving average of $230.37 and a 200-day moving average of $228.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings results 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. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.05%. The ex-dividend date is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Analysts Set New Price Targets

A number of analysts have weighed in on STE shares. KeyCorp raised their target price 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. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Monday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.