Plato Investment Management Ltd Buys 3,980 Shares of STERIS plc (NYSE:STE)

Plato Investment Management Ltd boosted its stake in shares of STERIS plc (NYSE:STE) by 3,015.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,112 shares of the medical equipment provider’s stock after buying an additional 3,980 shares during the quarter. Plato Investment Management Ltd’s holdings in STERIS were worth $924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Personal Financial Services bought a new stake in STERIS during the 1st quarter valued at about $25,000. J.Safra Asset Management Corp raised its holdings in shares of STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. Quent Capital LLC raised its holdings in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of STERIS in the 4th quarter valued at about $34,000. Finally, Headlands Technologies LLC bought a new stake in shares of STERIS in the 1st quarter valued at about $36,000. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STE traded down $0.35 during trading hours on Friday, hitting $240.66. The stock had a trading volume of 306,176 shares, compared to its average volume of 481,144. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. The firm has a 50-day moving average price of $223.88 and a 200 day moving average price of $222.27. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $242.70. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 63.09 and a beta of 0.83.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the business posted $2.30 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that STERIS plc will post 9.25 EPS for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a $0.57 dividend. This is a boost from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 5th. STERIS’s payout ratio is currently 54.45%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms have recently commented on STE. JMP Securities restated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Friday, July 26th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, May 10th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. Finally, StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.60.

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.