SpiderRock Advisors LLC Takes Position in STERIS plc (NYSE:STE)

SpiderRock Advisors LLC acquired a new stake in STERIS plc (NYSE:STE) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,051 shares of the medical equipment provider’s stock, valued at approximately $242,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of STERIS by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock worth $2,608,434,000 after acquiring an additional 53,526 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in STERIS by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,811,818 shares of the medical equipment provider’s stock worth $1,277,728,000 after buying an additional 77,152 shares in the last quarter. Norges Bank bought a new position in STERIS in the fourth quarter valued at approximately $220,954,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in STERIS by 4.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 976,402 shares of the medical equipment provider’s stock worth $208,491,000 after acquiring an additional 44,781 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in STERIS by 419.1% during the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after buying an additional 779,038 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

STERIS Stock Up 0.9 %

NYSE:STE traded up $2.06 during trading hours on Friday, hitting $219.44. 105,048 shares of the company’s stock traded hands, compared to its average volume of 491,801. The stock’s fifty day moving average price is $221.30 and its two-hundred day moving average price is $221.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. STERIS plc has a twelve month low of $195.47 and a twelve month high of $254.00. The firm has a market cap of $21.69 billion, a P/E ratio of 56.91 and a beta of 0.83.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. STERIS had a return on equity of 13.73% and a net margin of 6.95%. STERIS’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.30 EPS. On average, research analysts expect that STERIS plc will post 9.24 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, June 12th. STERIS’s payout ratio is currently 54.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STE. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Thursday, May 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.60.

Insider Activity at STERIS

In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of STERIS stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Renato Tamaro sold 1,154 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total transaction of $267,312.56. Following the transaction, the vice president now owns 6,677 shares in the company, valued at approximately $1,546,660.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,762 shares of company stock valued at $1,798,477. Corporate insiders own 1.14% of the company’s stock.

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.