Allspring Global Investments Holdings LLC Buys 529 Shares of STERIS plc (NYSE:STE)

Allspring Global Investments Holdings LLC raised its stake in STERIS plc (NYSE:STE) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,436 shares of the medical equipment provider’s stock after acquiring an additional 529 shares during the period. Allspring Global Investments Holdings LLC’s holdings in STERIS were worth $2,796,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new stake in shares of STERIS in the 4th quarter worth about $34,000. Pingora Partners LLC acquired a new position in STERIS in the fourth quarter valued at about $37,000. Glassman Wealth Services bought a new stake in STERIS during the fourth quarter worth about $38,000. Spire Wealth Management increased its holdings in shares of STERIS by 88.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of STERIS by 144.9% in the 4th quarter. AdvisorNet Financial Inc now owns 311 shares of the medical equipment provider’s stock worth $68,000 after acquiring an additional 184 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of NYSE:STE opened at $218.34 on Wednesday. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. STERIS plc has a 1-year low of $195.47 and a 1-year high of $254.00. The stock has a market capitalization of $21.58 billion, a P/E ratio of 57.16 and a beta of 0.83. The business has a 50-day moving average price of $220.69 and a two-hundred day moving average price of $221.28.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. STERIS’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts predict that STERIS plc will post 9.24 earnings per share for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. STERIS’s dividend payout ratio is currently 54.45%.

Insider Buying and Selling

In other STERIS news, VP Renato Tamaro sold 1,154 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $231.64, for a total value of $267,312.56. Following the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other STERIS news, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the completion of the sale, the vice president now owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 2,024 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the sale, the senior vice president now directly owns 11,369 shares in the company, valued at approximately $2,639,085.97. The disclosure for this sale can be found here. Insiders sold a total of 7,762 shares of company stock valued at $1,798,477 over the last three months. Company insiders own 1.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on STE. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Thursday, May 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target (up from $220.00) on shares of STERIS in a report on Friday, May 10th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.60.

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.