Park Edge Advisors LLC Grows Stock Position in STERIS plc (NYSE:STE)

Park Edge Advisors LLC increased its stake in STERIS plc (NYSE:STE) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,662 shares of the medical equipment provider’s stock after buying an additional 51 shares during the quarter. Park Edge Advisors LLC’s holdings in STERIS were worth $958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. West Coast Financial LLC lifted its stake in shares of STERIS by 2.8% during the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock worth $398,000 after acquiring an additional 45 shares during the last quarter. SkyView Investment Advisors LLC grew its position in STERIS by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock valued at $765,000 after acquiring an additional 51 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 76 shares during the period. Metis Global Partners LLC lifted its position in shares of STERIS by 1.6% during the third quarter. Metis Global Partners LLC now owns 5,450 shares of the medical equipment provider’s stock worth $1,322,000 after purchasing an additional 84 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of STERIS by 4.3% during the fourth quarter. Cranbrook Wealth Management LLC now owns 2,159 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 90 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STE has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Monday, November 18th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, STERIS has an average rating of “Moderate Buy” and an average target price of $262.50.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. The trade was a 12.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.14% of the company’s stock.

STERIS Price Performance

NYSE STE opened at $216.88 on Friday. The company has a market cap of $21.41 billion, a PE ratio of 49.52 and a beta of 0.84. The firm’s 50 day moving average price is $211.46 and its 200-day moving average price is $224.71. 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 52-week low of $197.82 and a 52-week high of $248.24.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. Sell-side analysts forecast that STERIS plc will post 9.11 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. STERIS’s dividend payout ratio is presently 52.05%.

STERIS Company 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.