Federated Hermes Inc. Has $74.41 Million Stock Position in STERIS plc (NYSE:STE)

Federated Hermes Inc. lowered its stake in shares of STERIS plc (NYSE:STE) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 328,310 shares of the medical equipment provider’s stock after selling 210 shares during the period. Federated Hermes Inc.’s holdings in STERIS were worth $74,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in STE. QRG Capital Management Inc. raised its holdings in shares of STERIS by 122.5% in the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider’s stock worth $642,000 after acquiring an additional 1,559 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of STERIS by 31.9% in the 1st quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider’s stock worth $23,229,000 after acquiring an additional 24,809 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of STERIS by 23.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider’s stock worth $273,000 after acquiring an additional 230 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 166 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of STERIS by 17.1% in the 1st quarter. Vontobel Holding Ltd. now owns 2,071 shares of the medical equipment provider’s stock worth $469,000 after acquiring an additional 302 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STE shares. Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Wall Street Zen downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. KeyCorp upped their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Stephens reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Finally, JMP Securities upped their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and an average target price of $270.33.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 12,828 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the transaction, the senior vice president directly owned 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. This trade represents a 53.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the transaction, the chief executive officer directly owned 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.

STERIS Stock Up 0.8%

STERIS stock opened at $228.24 on Wednesday. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The firm has a 50 day moving average price of $236.57 and a 200-day moving average price of $227.69. The company has a market capitalization of $22.45 billion, a P/E ratio of 36.81 and a beta of 0.92. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29.

STERIS (NYSE:STE) last released its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the firm earned $2.58 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, June 10th. STERIS’s dividend payout ratio is currently 36.77%.

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.