STERIS plc $STE Position Boosted by New York Life Investment Management LLC

New York Life Investment Management LLC grew its holdings in shares of STERIS plc (NYSE:STE) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,711 shares of the medical equipment provider’s stock after purchasing an additional 67 shares during the period. New York Life Investment Management LLC’s holdings in STERIS were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in STE. Geneos Wealth Management Inc. boosted its position in shares of STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in STERIS in the 1st quarter worth about $37,000. Costello Asset Management INC purchased a new position in STERIS in the 1st quarter worth about $45,000. Wayfinding Financial LLC purchased a new position in STERIS in the 1st quarter worth about $46,000. Finally, Atticus Wealth Management LLC purchased a new position in STERIS in the 2nd quarter worth about $68,000. Institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

STE has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of STERIS in a research note on Tuesday, October 14th. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Finally, KeyCorp lifted their price target on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

STERIS Price Performance

NYSE STE opened at $235.92 on Friday. The company has a 50 day simple moving average of $244.11 and a 200-day simple moving average of $237.83. 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 has a market capitalization of $23.24 billion, a price-to-earnings ratio of 36.13 and a beta of 1.01. STERIS plc has a 52-week low of $200.98 and a 52-week high of $253.00.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.02. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 earnings per share. Equities research analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Tuesday, November 18th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 18th. STERIS’s dividend payout ratio is 38.59%.

Insider Buying and Selling at STERIS

In other news, Director Mohsen Sohi sold 4,110 shares of STERIS stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the sale, the director directly owned 22,361 shares in the company, valued at $5,410,467.56. The trade was a 15.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renato Tamaro sold 3,204 shares of STERIS stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total value of $798,564.96. Following the sale, the vice president owned 7,221 shares of the company’s stock, valued at approximately $1,799,762.04. This represents a 30.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,868 shares of company stock worth $4,585,389 over the last quarter. Insiders own 1.07% of the company’s stock.

STERIS 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.