Concurrent Investment Advisors LLC Purchases 323 Shares of STERIS plc (NYSE:STE)

Concurrent Investment Advisors LLC boosted its position in shares of STERIS plc (NYSE:STE) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,652 shares of the medical equipment provider’s stock after purchasing an additional 323 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in STERIS were worth $1,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of STE. J.Safra Asset Management Corp raised its holdings in shares of STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 53 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of STERIS in the 3rd quarter worth approximately $28,000. Quent Capital LLC boosted its stake in shares of STERIS by 112.7% during the first 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 in the last quarter. Headlands Technologies LLC bought a new position in STERIS in the first quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its stake in STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 181 shares in the last quarter. 94.69% of the stock is owned by institutional investors.

STERIS Stock Down 5.3 %

STE stock opened at $215.50 on Friday. The stock has a market capitalization of $21.25 billion, a PE ratio of 49.20 and a beta of 0.85. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $232.73 and a 200 day moving average of $227.52.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.03. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.03 earnings per share. Sell-side analysts forecast that STERIS plc will post 9.02 earnings per share for the current year.

STERIS Announces Dividend

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

Insider Buying and Selling

In related news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on STE shares. 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. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Stephens reiterated an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research note on Thursday. Finally, Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and raised their target price for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently 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.