Suncoast Equity Management Raises Holdings in STERIS plc (NYSE:STE)

Suncoast Equity Management boosted its holdings in shares of STERIS plc (NYSE:STE) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,560 shares of the medical equipment provider’s stock after acquiring an additional 305 shares during the quarter. Suncoast Equity Management’s holdings in STERIS were worth $732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STE. Ashton Thomas Securities LLC acquired a new position in STERIS during the third quarter worth $25,000. Human Investing LLC acquired a new position in STERIS during the 4th quarter worth about $31,000. Central Pacific Bank Trust Division lifted its stake in STERIS by 65.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 76 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in STERIS by 182.7% during the 4th quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 137 shares during the period. Finally, Quarry LP acquired a new position in STERIS in the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

STE has been the subject of several recent research reports. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. Stephens restated an “overweight” rating and issued a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler lifted their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Stock Performance

Shares of STE stock opened at $220.73 on Friday. The firm has a fifty day moving average price of $213.47 and a 200 day moving average price of $223.64. The company has a market cap of $21.69 billion, a P/E ratio of 46.86 and a beta of 0.84. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. Sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. STERIS’s dividend payout ratio is presently 48.41%.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.14% of the stock is currently owned by corporate insiders.

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.