Stifel Financial Corp Boosts Stock Position in STERIS plc (NYSE:STE)

Stifel Financial Corp grew its holdings in STERIS plc (NYSE:STE) by 0.3% during the third quarter, HoldingsChannel.com reports. The firm owned 87,420 shares of the medical equipment provider’s stock after acquiring an additional 236 shares during the quarter. Stifel Financial Corp’s holdings in STERIS were worth $21,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quantinno Capital Management LP increased its position in shares of STERIS by 46.1% during the third quarter. Quantinno Capital Management LP now owns 22,423 shares of the medical equipment provider’s stock worth $5,439,000 after acquiring an additional 7,071 shares during the period. Quarry LP purchased a new position in STERIS during the 3rd quarter worth $67,000. Investment Management Corp of Ontario raised its position in STERIS by 55.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 3,365 shares of the medical equipment provider’s stock valued at $816,000 after purchasing an additional 1,200 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of STERIS in the 3rd quarter worth $218,000. Finally, Cinctive Capital Management LP bought a new position in shares of STERIS during the 3rd quarter worth $6,446,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Activity at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the sale, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STE has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Stephens restated an “overweight” rating and set a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. Finally, KeyCorp lifted their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.50.

STERIS Stock Performance

STE opened at $215.63 on Tuesday. The firm has a fifty day moving average price of $222.40 and a 200 day moving average price of $227.65. 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 $197.82 and a 1 year high of $248.24. The stock has a market cap of $21.28 billion, a P/E ratio of 49.23 and a beta of 0.83.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $2.03 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts anticipate that STERIS plc will post 9.1 earnings per share for the current year.

STERIS Announces Dividend

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

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.