STERIS plc (NYSE:STE) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in STERIS plc (NYSE:STE) by 5.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,369 shares of the medical equipment provider’s stock after purchasing an additional 126 shares during the period. Park Avenue Securities LLC’s holdings in STERIS were worth $487,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in STERIS in the 3rd quarter valued at approximately $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS in the third quarter valued at $28,000. Quarry LP purchased a new position in STERIS in the third quarter valued at $67,000. Asset Dedication LLC grew its stake in STERIS by 54.8% during the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after purchasing an additional 103 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in STERIS by 45.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 583 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 181 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Down 0.6 %

Shares of NYSE:STE opened at $217.25 on Friday. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The stock has a market cap of $21.44 billion, a P/E ratio of 49.60 and a beta of 0.84. The firm has a fifty day moving average price of $211.60 and a 200 day moving average price of $224.70.

STERIS (NYSE:STE) last announced its 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 during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts predict that STERIS plc will post 9.1 EPS for the current year.

STERIS Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STE shares. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.50.

Insider Activity

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company’s stock.

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.