Concurrent Investment Advisors LLC Boosts Stock Position in STERIS plc (NYSE:STE)

Concurrent Investment Advisors LLC grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 16.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,899 shares of the medical equipment provider's stock after purchasing an additional 1,279 shares during the quarter. Concurrent Investment Advisors LLC's holdings in STERIS were worth $2,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avalon Trust Co purchased a new stake in shares of STERIS during the 4th quarter valued at about $30,000. Grove Bank & Trust boosted its stake in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after acquiring an additional 142 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of STERIS during the 1st quarter worth $43,000. Brown Brothers Harriman & Co. boosted its stake in shares of STERIS by 66.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 88 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on STE shares. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a report on Friday, May 16th. JMP Securities lifted their price target on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Morgan Stanley increased their price target on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group began coverage on STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, STERIS presently has an average rating of "Moderate Buy" and an average price target of $263.83.

Insiders Place Their Bets

In other news, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the sale, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the sale, the senior vice president owned 11,372 shares in the company, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

STERIS Price Performance

STE traded down $2.80 during trading on Friday, hitting $227.92. 431,191 shares of the company traded hands, compared to its average volume of 550,675. The company has a market cap of $22.42 billion, a PE ratio of 36.76 and a beta of 0.92. The stock's 50-day simple moving average is $238.56 and its two-hundred day simple moving average is $225.89. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, June 10th. STERIS's dividend payout ratio (DPR) is currently 36.77%.

About STERIS

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.