STERIS plc (NYSE:STE) Shares Acquired by Suncoast Equity Management

21 Oct 2024, 11:41 by Amy Steele · The Cerbat Gem

Suncoast Equity Management increased its holdings in shares of STERIS plc (NYSE:STE – Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,255 shares of the medical equipment provider’s stock after acquiring an additional 162 shares during the quarter. Suncoast Equity Management’s holdings in STERIS were worth $789,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of STE. Massachusetts Financial Services Co. MA raised its position in shares of STERIS by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after purchasing an additional 778,613 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in STERIS by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after buying an additional 120,616 shares during the last quarter. Sustainable Growth Advisers LP lifted its stake in STERIS by 23.5% in the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after buying an additional 282,387 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of STERIS by 29.7% during the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after acquiring an additional 263,383 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of STERIS by 0.9% during the second quarter. Principal Financial Group Inc. now owns 1,017,888 shares of the medical equipment provider’s stock worth $223,467,000 after acquiring an additional 8,601 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of STE traded down $1.83 during midday trading on Monday, reaching $223.82. The stock had a trading volume of 105,148 shares, compared to its average volume of 471,829. The firm’s 50 day moving average price is $235.66 and its 200-day moving average price is $226.07. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24. The company has a market capitalization of $22.07 billion, a P/E ratio of 55.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49.

STERIS (NYSE:STE – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 EPS. On average, analysts forecast that STERIS plc will post 9.06 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. STERIS’s dividend payout ratio (DPR) is currently 56.58%.

Analysts Set New Price Targets

STE has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Stephens reissued an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a report on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. KeyCorp increased their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $246.00.

Read Our Latest Research Report on STE

Insider Transactions at STERIS

In related news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the transaction, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

About STERIS

(Free Report)

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.