GAMMA Investing LLC Has $92.98 Million Stock Holdings in STERIS plc (NYSE:STE)

GAMMA Investing LLC grew its stake in STERIS plc (NYSE:STE - Free Report) by 35,759.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,237 shares of the medical equipment provider's stock after acquiring an additional 409,093 shares during the period. GAMMA Investing LLC owned 0.42% of STERIS worth $92,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of STE. Avalon Trust Co acquired a new stake in shares of STERIS during the 4th quarter worth approximately $30,000. Human Investing LLC bought a new position in STERIS in the fourth quarter valued at approximately $31,000. Anfield Capital Management LLC raised its position in shares of STERIS by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock valued at $37,000 after acquiring an additional 91 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of STERIS by 182.7% in the 4th quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider's stock valued at $44,000 after purchasing an additional 137 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 88 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JMP Securities lifted their price objective on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Wall Street Zen lowered STERIS from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Morgan Stanley increased their price target on shares of STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Stephens restated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, STERIS has an average rating of "Moderate Buy" and a consensus target price of $263.83.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 12,828 shares of the business's 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 transaction, the senior vice president now directly owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. The trade was a 53.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company's stock.

STERIS Stock Up 0.6%

STE stock traded up $1.47 during trading hours on Thursday, reaching $243.57. 166,103 shares of the stock were exchanged, compared to its average volume of 544,465. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 51.71 and a beta of 0.96. The firm's 50-day moving average is $229.18 and its 200-day moving average is $221.22. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.15. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $2.58 earnings per share. The firm's revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Tuesday, June 10th. STERIS's payout ratio is presently 36.77%.

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.