Concurrent Investment Advisors LLC Has $2.25 Million Stake in STERIS plc $STE

Concurrent Investment Advisors LLC grew its holdings in STERIS plc (NYSE:STE) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,365 shares of the medical equipment provider’s stock after purchasing an additional 466 shares during the period. Concurrent Investment Advisors LLC’s holdings in STERIS were worth $2,250,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in STE. GAMMA Investing LLC increased its stake in STERIS by 58.2% in the 1st quarter. GAMMA Investing LLC now owns 1,810 shares of the medical equipment provider’s stock valued at $410,000 after buying an additional 666 shares during the period. Fifth Third Bancorp increased its stake in shares of STERIS by 16.8% in the first quarter. Fifth Third Bancorp now owns 2,893 shares of the medical equipment provider’s stock worth $656,000 after acquiring an additional 416 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of STERIS by 11.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,078 shares of the medical equipment provider’s stock worth $1,831,000 after acquiring an additional 801 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of STERIS by 23.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider’s stock worth $273,000 after acquiring an additional 230 shares during the last quarter. Finally, Sagespring Wealth Partners LLC increased its position in STERIS by 12.4% in the 1st quarter. Sagespring Wealth Partners LLC now owns 5,255 shares of the medical equipment provider’s stock worth $1,191,000 after purchasing an additional 578 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Transactions at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the transaction, the chief accounting officer owned 5,994 shares of the company’s stock, valued at approximately $1,448,929.62. The trade was a 56.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Renato Tamaro sold 3,204 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the transaction, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,868 shares of company stock valued at $4,585,389. 1.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. Weiss Ratings restated a “buy (b)” rating on shares of STERIS in a report on Tuesday. KeyCorp increased their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley increased their price target on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $273.50.

STERIS Stock Up 1.0%

STE opened at $237.92 on Wednesday. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $253.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The firm’s fifty day moving average price is $244.75 and its two-hundred day moving average price is $236.07. The company has a market capitalization of $23.43 billion, a P/E ratio of 36.43 and a beta of 1.01.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. On average, analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.1%. This is a boost from STERIS’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, September 4th. STERIS’s dividend payout ratio (DPR) is presently 38.59%.

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.