STERIS plc (NYSE:STE) Shares Purchased by Suncoast Equity Management

Suncoast Equity Management boosted its stake in shares of STERIS plc (NYSE:STE) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,560 shares of the medical equipment provider’s stock after acquiring an additional 305 shares during the quarter. Suncoast Equity Management’s holdings in STERIS were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in STE. Geode Capital Management LLC increased its holdings in shares of STERIS by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock valued at $556,786,000 after purchasing an additional 17,007 shares during the period. Principal Financial Group Inc. increased its stake in STERIS by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,119,643 shares of the medical equipment provider’s stock valued at $230,160,000 after buying an additional 5,419 shares during the period. Franklin Resources Inc. raised its position in STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after buying an additional 529,308 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of STERIS by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider’s stock worth $133,749,000 after acquiring an additional 6,334 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock worth $75,132,000 after acquiring an additional 305,651 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is owned by corporate insiders.

STERIS Trading Down 0.3 %

NYSE STE opened at $220.73 on Friday. The firm has a market capitalization of $21.69 billion, a price-to-earnings ratio of 46.86 and a beta of 0.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. STERIS plc has a one year low of $197.82 and a one year high of $248.24. The company’s 50 day moving average price is $213.47 and its 200 day moving average price is $223.64.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. On average, sell-side analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.03%. STERIS’s payout ratio is 48.41%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research report on Thursday, February 6th. Piper Sandler raised their price target on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Company 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.