Mirae Asset Global Investments Co. Ltd. Buys New Stake in STERIS plc $STE

Mirae Asset Global Investments Co. Ltd. bought a new position in STERIS plc (NYSE:STE) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 26,468 shares of the medical equipment provider’s stock, valued at approximately $5,559,000.

A number of other institutional investors have also recently bought and sold shares of STE. Wellington Management Group LLP increased its stake in shares of STERIS by 21.9% during the 2nd quarter. Wellington Management Group LLP now owns 3,502,897 shares of the medical equipment provider’s stock worth $737,605,000 after purchasing an additional 629,532 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of STERIS by 25.7% during the first quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock valued at $411,995,000 after buying an additional 380,504 shares during the period. Amundi lifted its stake in STERIS by 43.2% in the 1st quarter. Amundi now owns 771,092 shares of the medical equipment provider’s stock worth $170,512,000 after purchasing an additional 232,520 shares in the last quarter. SEB Asset Management AB bought a new stake in STERIS during the first quarter valued at $30,660,000. Finally, Hsbc Holdings PLC boosted its position in shares of STERIS by 352.5% during the 1st quarter. Hsbc Holdings PLC now owns 176,320 shares of the medical equipment provider’s stock valued at $38,958,000 after acquiring an additional 137,355 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Insider Activity at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the transaction, the director owned 24,305 shares in the company, valued at $5,730,632.90. The trade was a 14.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

STE has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Piper Sandler reissued an “overweight” rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Finally, UBS Group cut their price target on STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $271.33.

STERIS Trading Up 2.7%

NYSE:STE opened at $254.62 on Friday. The company’s 50 day moving average price is $220.19 and its 200-day moving average price is $224.74. STERIS plc has a 52 week low of $195.14 and a 52 week high of $269.44. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a market cap of $24.83 billion, a price-to-earnings ratio of 30.20 and a beta of 0.86.

STERIS (NYSE:STE) last announced its quarterly earnings data 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. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. STERIS had a net margin of 13.41% and a return on equity of 14.84%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. On average, equities research analysts forecast that STERIS plc will post 11.17 earnings per share for the current fiscal year.

STERIS Announces Dividend

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

STERIS Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.