Eventide Asset Management LLC Buys 11,362 Shares of STERIS plc (NYSE:STE)

Eventide Asset Management LLC grew its stake in STERIS plc (NYSE:STE) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,459 shares of the medical equipment provider’s stock after acquiring an additional 11,362 shares during the quarter. Eventide Asset Management LLC owned 0.15% of STERIS worth $34,795,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in STERIS during the 3rd quarter worth $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS during the third quarter worth about $28,000. Quent Capital LLC lifted its holdings in shares of STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of STERIS by 2,262.5% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in STERIS by 154.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 116 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the sale, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

STERIS Trading Up 0.7 %

Shares of NYSE:STE opened at $217.47 on Friday. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The stock has a market cap of $21.47 billion, a PE ratio of 49.65 and a beta of 0.85. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $225.36 and a 200-day moving average of $228.43.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. As a group, equities research analysts forecast that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.05%. STERIS’s payout ratio is presently 52.05%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STE. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

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.