DekaBank Deutsche Girozentrale Boosts Holdings in STERIS plc (NYSE:STE)

DekaBank Deutsche Girozentrale raised its holdings in STERIS plc (NYSE:STE) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,704 shares of the medical equipment provider’s stock after purchasing an additional 629 shares during the period. DekaBank Deutsche Girozentrale’s holdings in STERIS were worth $7,341,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of STE. Maxwell Wealth Strategies Inc. boosted its position in shares of STERIS by 445.3% in the first quarter. Maxwell Wealth Strategies Inc. now owns 6,429 shares of the medical equipment provider’s stock valued at $1,435,000 after acquiring an additional 5,250 shares during the period. Cetera Advisors LLC boosted its position in shares of STERIS by 53.7% in the first quarter. Cetera Advisors LLC now owns 4,164 shares of the medical equipment provider’s stock valued at $936,000 after acquiring an additional 1,455 shares during the period. Cetera Investment Advisers boosted its position in shares of STERIS by 215.1% in the first quarter. Cetera Investment Advisers now owns 12,330 shares of the medical equipment provider’s stock valued at $2,772,000 after acquiring an additional 8,417 shares during the period. Atria Investments Inc boosted its position in shares of STERIS by 5.6% in the first quarter. Atria Investments Inc now owns 9,322 shares of the medical equipment provider’s stock valued at $2,096,000 after acquiring an additional 493 shares during the period. Finally, Strategic Wealth Partners Ltd. boosted its position in shares of STERIS by 9.1% in the first quarter. Strategic Wealth Partners Ltd. now owns 29,240 shares of the medical equipment provider’s stock valued at $6,574,000 after acquiring an additional 2,434 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling

In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the transaction, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 7,762 shares of company stock valued at $1,798,477 over the last three months. 1.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

STE has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price (up from $220.00) on shares of STERIS in a research report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research report on Friday, July 26th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.60.

STERIS Trading Up 0.7 %

Shares of STE traded up $1.59 during mid-day trading on Friday, reaching $242.60. The company’s stock had a trading volume of 647,501 shares, compared to its average volume of 402,930. The stock has a market cap of $23.98 billion, a PE ratio of 63.51 and a beta of 0.83. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. STERIS plc has a 52 week low of $195.47 and a 52 week high of $242.91. The company’s fifty day moving average price is $224.15 and its two-hundred day moving average price is $222.42.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $2.30 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts predict that STERIS plc will post 9.25 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. STERIS’s payout ratio is presently 54.45%.

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.