STERIS plc $STE Stock Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners more than doubled its STERIS stake in the third quarter, increasing holdings 100.9% to 9,325 shares worth about $1.96 million. Institutional investors collectively own 94.69% of the company.
• STERIS reported quarterly EPS of $2.94, beating estimates of $2.68, while revenue of $1.59 billion exceeded forecasts and grew 8.8% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $276.33. STERIS also announced a quarterly dividend of $0.69 per share, equivalent to a 1.1% yield.

CenterBook Partners LP grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 100.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,325 shares of the medical equipment provider's stock after acquiring an additional 4,683 shares during the quarter. CenterBook Partners LP's holdings in STERIS were worth $1,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of STE. Inscription Capital LLC raised its stake in STERIS by 44.6% in the third quarter. Inscription Capital LLC now owns 1,753 shares of the medical equipment provider's stock valued at $368,000 after purchasing an additional 541 shares in the last quarter. Covestor Ltd lifted its position in STERIS by 84.5% during the third quarter. Covestor Ltd now owns 476 shares of the medical equipment provider's stock valued at $100,000 after purchasing an additional 218 shares during the last quarter. Compass Financial Management LLC purchased a new position in STERIS in the 3rd quarter worth approximately $25,000. Rakuten Investment Management Inc. purchased a new position in STERIS in the 3rd quarter worth approximately $3,686,000. Finally, Provenance Wealth Advisors LLC purchased a new position in STERIS in the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on STE shares. Piper Sandler reissued an "overweight" rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a report on Friday, August 7th. UBS Group dropped their price objective on shares of STERIS from $275.00 to $270.00 and set a "buy" rating for the company in a report on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of STERIS in a research report on Monday, August 24th. Wall Street Zen lowered shares of STERIS from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Finally, KeyCorp increased their target price on STERIS from $269.00 to $284.00 and gave the company an "overweight" rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $276.33.

Insider Buying and Selling at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the sale, the director directly owned 24,305 shares in the company, valued at approximately $5,730,632.90. The trade was a 14.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.12% of the company's stock.

STERIS Stock Performance

Shares of NYSE STE opened at $252.34 on Monday. The stock's 50-day moving average is $220.58 and its 200 day moving average is $224.71. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 29.93 and a beta of 0.86. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The company has a current ratio of 2.05, a quick ratio of 1.44 and a debt-to-equity ratio of 0.23.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.26. STERIS had a return on equity of 14.80% and a net margin of 13.41%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $2.47 earnings per share. STERIS's revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that STERIS plc will post 11.46 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Tuesday, November 17th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, November 17th. STERIS's payout ratio is presently 32.74%.

STERIS Company Profile

STERIS plc NYSE: STE provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures.

The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.

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