Concurrent Investment Advisors LLC Has $2.02 Million Stock Position in STERIS plc (NYSE:STE)

Concurrent Investment Advisors LLC boosted its holdings in STERIS plc (NYSE:STE - Free Report) by 16.8% during the first 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 acquiring an additional 1,279 shares during the quarter. Concurrent Investment Advisors LLC's holdings in STERIS were worth $2,017,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in shares of STERIS by 122.5% in the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock worth $642,000 after purchasing an additional 1,559 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 166 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in STERIS by 23.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after acquiring an additional 230 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in STERIS by 5.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider's stock worth $2,029,000 after purchasing an additional 431 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in STERIS by 58.2% in the 1st quarter. GAMMA Investing LLC now owns 1,810 shares of the medical equipment provider's stock worth $410,000 after buying an additional 666 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Insider Activity at STERIS

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the company'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 $12,463,945.60. This represents a 25.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the transaction, the senior vice president owned 11,372 shares in the company, valued at approximately $2,843,909.76. The trade was a 53.01% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on STE shares. Needham & Company LLC restated a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. JMP Securities boosted their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, Jefferies Financial Group assumed coverage on shares of STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $263.83.

STERIS Trading Down 0.9%

NYSE:STE traded down $2.05 during trading hours on Wednesday, hitting $230.52. The company had a trading volume of 63,763 shares, compared to its average volume of 549,604. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79. The company has a market capitalization of $22.68 billion, a PE ratio of 37.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The stock has a 50-day moving average price of $238.19 and a 200 day moving average price of $225.56.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, beating the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, June 10th. STERIS's dividend payout ratio is presently 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.