2,500 STERIS plc $STE Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its holdings in STERIS plc (NYSE:STE) by 31.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,500 shares of the medical equipment provider’s stock after purchasing an additional 2,500 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in STERIS were worth $2,205,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Western Wealth Management LLC purchased a new stake in STERIS in the 1st quarter valued at approximately $25,000. Compass Financial Management LLC purchased a new position in STERIS during the third quarter worth $25,000. Elevation Wealth Partners LLC increased its position in STERIS by 1,130.0% during the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 113 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of STERIS in the second quarter worth $41,000. Finally, Community Financial Services Group LLC raised its holdings in shares of STERIS by 50.0% in the third quarter. Community Financial Services Group LLC now owns 216 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 72 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mohsen Sohi sold 4,058 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total transaction of $956,795.24. Following the transaction, the director directly owned 24,305 shares in the company, valued at approximately $5,730,632.90. This represents a 14.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.12% of the company’s stock.

STERIS Trading Up 2.0%

Shares of STE opened at $257.42 on Tuesday. The stock has a fifty day moving average of $221.06 and a two-hundred day moving average of $224.69. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. The company has a market capitalization of $25.10 billion, a PE ratio of 22.76 and a beta of 0.86. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. STERIS had a return on equity of 14.84% and a net margin of 13.41%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts forecast that STERIS plc will post 11.46 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Tuesday, November 17th will be given a dividend of $0.69 per share. The ex-dividend date is Tuesday, November 17th. This represents a $2.76 annualized dividend and a yield of 1.1%. STERIS’s dividend payout ratio is 32.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STE. KeyCorp upped their price objective on STERIS from $269.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. Wall Street Zen downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Piper Sandler restated an “overweight” rating and issued a $275.00 target price (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Finally, UBS Group decreased their price target on shares of STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and an average price target of $276.33.

STERIS 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.