Edgestream Partners L.P. lifted its stake in STERIS plc (NYSE:STE - Free Report) by 36.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,055 shares of the medical equipment provider's stock after purchasing an additional 4,251 shares during the period. Edgestream Partners L.P.'s holdings in STERIS were worth $3,639,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Grove Bank & Trust grew its holdings in shares of STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 142 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of STERIS in the first quarter worth about $43,000. Brown Brothers Harriman & Co. grew its holdings in shares of STERIS by 66.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 88 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 166 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of STERIS in the first quarter worth about $46,000. 94.69% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
STE has been the subject of a number of research reports. Morgan Stanley raised shares of STERIS from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $260.00 to $276.00 in a research note on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, JMP Securities upped their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $266.50.
Read Our Latest Stock Analysis on STE
Insider Activity
In other news, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction 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. This trade represents 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 Stock Down 1.5%
Shares of STE stock traded down $3.34 during mid-day trading on Thursday, hitting $224.28. 1,076,141 shares of the stock traded hands, compared to its average volume of 558,339. The stock has a market cap of $22.06 billion, a P/E ratio of 36.17 and a beta of 0.92. The stock's fifty day moving average is $238.72 and its two-hundred day moving average is $226.41. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39.
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. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 earnings per share. Equities analysts predict that STERIS plc will post 9.08 EPS for the current year.
STERIS Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. STERIS's dividend payout ratio (DPR) is currently 36.77%.
STERIS Profile
(
Free Report)
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.
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