Frontier Capital Management Co. LLC Purchases 19,587 Shares of STERIS plc (NYSE:STE)

Frontier Capital Management Co. LLC lifted its holdings in STERIS plc (NYSE:STE) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 264,135 shares of the medical equipment provider’s stock after buying an additional 19,587 shares during the period. Frontier Capital Management Co. LLC’s holdings in STERIS were worth $58,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new position in shares of STERIS during the 3rd quarter valued at approximately $25,000. VisionPoint Advisory Group LLC purchased a new position in STERIS during the 4th quarter valued at $34,000. Pingora Partners LLC purchased a new stake in shares of STERIS in the fourth quarter valued at approximately $37,000. Glassman Wealth Services acquired a new stake in STERIS in the fourth quarter worth about $38,000. Finally, Spire Wealth Management raised its holdings in shares of STERIS by 88.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on STE shares. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $241.60.

Insider Activity at STERIS

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 stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $232.13, for a total value 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the firm’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. In the last quarter, insiders sold 7,762 shares of company stock valued at $1,798,477. 0.95% of the stock is owned by insiders.

STERIS Trading Up 0.8 %

STE traded up $1.78 during trading hours on Tuesday, reaching $226.57. The company’s stock had a trading volume of 269,088 shares, compared to its average volume of 486,435. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.08 and a quick ratio of 2.36. The business’s 50-day moving average is $216.99 and its 200-day moving average is $219.44. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $254.00. The stock has a market cap of $22.41 billion, a PE ratio of 58.84 and a beta of 0.85.

STERIS (NYSE:STE) last released its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm posted $2.30 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that STERIS plc will post 9.24 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, June 12th. STERIS’s payout ratio is currently 54.45%.

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.