Denali Advisors LLC Invests $67,000 in STERIS plc (NYSE:STE)

Denali Advisors LLC bought a new stake in STERIS plc (NYSE:STE) during the first quarter, according to its most recent filing with the SEC. The firm bought 300 shares of the medical equipment provider’s stock, valued at approximately $67,000.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of STERIS in the fourth quarter worth $220,954,000. Impax Asset Management Group plc raised its position in shares of STERIS by 419.1% during the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock valued at $211,430,000 after buying an additional 779,038 shares during the last quarter. APG Asset Management US Inc. acquired a new position in shares of STERIS during the fourth quarter valued at about $74,963,000. Goldman Sachs Group Inc. lifted its stake in shares of STERIS by 71.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock valued at $132,763,000 after buying an additional 252,200 shares during the period. Finally, Artemis Investment Management LLP bought a new position in STERIS during the fourth quarter valued at about $32,687,000. Institutional investors own 94.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research report on Thursday, May 9th. Piper Sandler restated a “neutral” rating and set a $225.00 target price (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, STERIS presently has an average rating of “Moderate Buy” and an average price target of $241.60.

STERIS Trading Down 0.4 %

STERIS stock traded down $0.96 during midday trading on Wednesday, hitting $217.38. 196,801 shares of the stock were exchanged, compared to its average volume of 494,846. The stock has a market capitalization of $21.49 billion, a PE ratio of 57.16 and a beta of 0.83. The company has a fifty day simple moving average of $220.69 and a two-hundred day simple moving average of $221.28. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. STERIS plc has a 52 week low of $195.47 and a 52 week high of $254.00.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company posted $2.30 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts anticipate that STERIS plc will post 9.24 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. STERIS’s dividend payout ratio is currently 54.45%.

Insiders Place Their Bets

In other STERIS news, VP Renato Tamaro sold 1,154 shares of STERIS stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the sale, the vice president now directly owns 6,677 shares in the company, valued at approximately $1,546,660.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $231.64, for a total transaction of $267,312.56. Following the sale, the vice president now owns 6,677 shares in the company, valued at approximately $1,546,660.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cary L. Majors sold 2,024 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $232.13, for a total transaction of $469,831.12. Following the sale, the senior vice president now directly owns 11,369 shares in the company, valued at $2,639,085.97. The disclosure for this sale can be found here. Insiders sold a total of 7,762 shares of company stock valued at $1,798,477 in the last quarter. 1.14% of the stock is currently owned by insiders.

About STERIS

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.