Tokio Marine Asset Management Co. Ltd. Raises Holdings in STERIS plc (NYSE:STE)

Tokio Marine Asset Management Co. Ltd. boosted its position in STERIS plc (NYSE:STE) by 5.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,942 shares of the medical equipment provider’s stock after acquiring an additional 155 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in STERIS were worth $714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STE. Quent Capital LLC lifted its stake in shares of STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares in the last quarter. Empowered Funds LLC lifted its stake in STERIS by 52.1% in the 1st quarter. Empowered Funds LLC now owns 1,729 shares of the medical equipment provider’s stock worth $389,000 after purchasing an additional 592 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of STERIS during the 1st quarter worth approximately $36,000. TIAA Trust National Association grew its position in shares of STERIS by 15.6% in the first quarter. TIAA Trust National Association now owns 1,798 shares of the medical equipment provider’s stock valued at $404,000 after purchasing an additional 242 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of STERIS in the first quarter valued at approximately $1,539,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STE stock opened at $220.12 on Friday. The stock’s 50-day moving average is $230.37 and its two-hundred day moving average is $228.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24. The firm has a market cap of $21.73 billion, a price-to-earnings ratio of 50.26 and a beta of 0.85.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $2.03 EPS. STERIS’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

STE has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. KeyCorp upped their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $253.00.

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.