Aljian Capital Management LLC Buys New Shares in STERIS plc (NYSE:STE)

Aljian Capital Management LLC purchased a new position in STERIS plc (NYSE:STE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,200 shares of the medical equipment provider’s stock, valued at approximately $776,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of STE. Quent Capital LLC boosted its holdings in 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 acquiring an additional 71 shares during the period. TIAA Trust National Association boosted its position in STERIS by 15.6% during the 1st quarter. TIAA Trust National Association now owns 1,798 shares of the medical equipment provider’s stock valued at $404,000 after buying an additional 242 shares during the period. Edgestream Partners L.P. purchased a new stake in STERIS during the 1st quarter valued at $1,539,000. Covestor Ltd grew its holdings in STERIS by 745.8% in the 1st quarter. Covestor Ltd now owns 609 shares of the medical equipment provider’s stock worth $137,000 after acquiring an additional 537 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of STERIS by 3.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,164 shares of the medical equipment provider’s stock valued at $3,184,000 after acquiring an additional 413 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STE has been the topic of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Stephens reiterated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Insider Buying and Selling

In other news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 35.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.14% of the stock is currently owned by corporate insiders.

STERIS Trading Down 0.5 %

NYSE:STE opened at $220.12 on Monday. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 50.26 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 company’s 50 day moving average price is $230.37 and its 200-day moving average price is $228.42. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24.

STERIS (NYSE:STE) last released 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. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $2.03 earnings per share. STERIS’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that STERIS plc will post 9.15 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given 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 yield of 1.04%. STERIS’s dividend payout ratio (DPR) is 52.05%.

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.