STERIS plc $STE Stock: Kornitzer Capital Management Inc. KS Increases Position

Kornitzer Capital Management Inc. KS raised its position in STERIS plc (NYSE:STE) by 31.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,500 shares of the medical equipment provider’s stock after acquiring an additional 2,500 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in STERIS were worth $2,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in STE. Wellington Management Group LLP boosted its holdings in STERIS by 21.9% in the 2nd quarter. Wellington Management Group LLP now owns 3,502,897 shares of the medical equipment provider’s stock valued at $737,605,000 after purchasing an additional 629,532 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of STERIS by 25.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock worth $411,995,000 after buying an additional 380,504 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of STERIS by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,113,845 shares of the medical equipment provider’s stock worth $246,295,000 after buying an additional 46,391 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of STERIS by 8.8% in the 1st quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider’s stock valued at $231,883,000 after buying an additional 85,188 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of STERIS by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 890,562 shares of the medical equipment provider’s stock valued at $196,931,000 after buying an additional 9,226 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling

In other STERIS news, Director Mohsen Sohi sold 4,058 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total transaction of $956,795.24. Following the sale, the director directly owned 24,305 shares in the company, valued at approximately $5,730,632.90. The trade was a 14.31% 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 link. Insiders own 1.12% of the company’s stock.

STERIS Price Performance

STE stock opened at $257.42 on Tuesday. The firm has a 50 day moving average of $221.06 and a 200-day moving average of $224.69. STERIS plc has a 12-month low of $195.14 and a 12-month high of $269.44. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 22.76 and a beta of 0.86.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.68 by $0.26. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. STERIS had a return on equity of 14.84% and a net margin of 13.41%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 EPS. As a group, equities analysts expect that STERIS plc will post 11.46 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Tuesday, November 17th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.76 annualized dividend and a yield of 1.1%. STERIS’s payout ratio is currently 32.74%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STE. Piper Sandler restated an “overweight” rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. UBS Group cut their price objective on STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. Weiss Ratings restated a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. Finally, KeyCorp boosted their target price on shares of STERIS from $269.00 to $284.00 and gave the stock an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.33.

STERIS Profile

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures.

The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.