State of Tennessee Treasury Department raised its stake in shares of Steris Plc (NYSE:STE) by 20.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 60,000 shares of the medical equipment provider’s stock after buying an additional 10,000 shares during the period. State of Tennessee Treasury Department owned about 0.07% of Steris Plc worth $5,304,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STE. Janus Henderson Group PLC raised its stake in shares of Steris Plc by 1,972.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,679,507 shares of the medical equipment provider’s stock valued at $625,880,000 after buying an additional 7,308,950 shares during the last quarter. BlackRock Inc. raised its stake in shares of Steris Plc by 33.4% during the 2nd quarter. BlackRock Inc. now owns 7,032,984 shares of the medical equipment provider’s stock valued at $573,188,000 after buying an additional 1,760,879 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Steris Plc by 944,971.1% during the 2nd quarter. Bessemer Group Inc. now owns 1,342,001 shares of the medical equipment provider’s stock valued at $109,373,000 after buying an additional 1,341,859 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Steris Plc during the 2nd quarter valued at about $1,089,000. Finally, Principal Financial Group Inc. raised its stake in shares of Steris Plc by 115.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,911,958 shares of the medical equipment provider’s stock valued at $155,825,000 after buying an additional 1,023,035 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.
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Steris Plc (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.01). Steris Plc had a return on equity of 11.49% and a net margin of 5.59%. The firm had revenue of $634.20 million during the quarter, compared to analyst estimates of $629.02 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. research analysts forecast that Steris Plc will post 4.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 22nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, November 21st. Steris Plc’s payout ratio is 73.81%.
Several equities analysts recently weighed in on the company. TD Securities lifted their price target on Steris Plc from C$14.00 to C$16.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Raymond James Financial, Inc. lifted their price target on Steris Plc from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. BidaskClub lowered Steris Plc from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Steris Plc from a “buy” rating to a “sell” rating in a research note on Monday, November 6th. Finally, KeyCorp restated an “overweight” rating and issued a $101.00 price target (up previously from $91.00) on shares of Steris Plc in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $77.80.
In related news, insider Michael J. Tokich sold 12,000 shares of Steris Plc stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $89.75, for a total value of $1,077,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Martin Steeves sold 156,072 shares of Steris Plc stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $87.13, for a total value of $13,598,553.36. Following the completion of the sale, the director now owns 9,362 shares in the company, valued at $815,711.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,072 shares of company stock worth $16,592,553. 2.55% of the stock is currently owned by insiders.
Steris Plc Profile
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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