Running Oak Capital LLC Grows Holdings in STERIS plc (NYSE:STE)

Running Oak Capital LLC increased its position in shares of STERIS plc (NYSE:STE) by 13.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,145 shares of the medical equipment provider’s stock after buying an additional 5,407 shares during the period. Running Oak Capital LLC’s holdings in STERIS were worth $10,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of STERIS in the 4th quarter worth about $220,954,000. Impax Asset Management Group plc increased its position in shares of STERIS by 419.1% in the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after purchasing an additional 779,038 shares during the last quarter. APG Asset Management US Inc. bought a new stake in shares of STERIS in the 4th quarter worth about $74,963,000. Goldman Sachs Group Inc. increased its position in shares of STERIS by 71.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock worth $132,763,000 after purchasing an additional 252,200 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of STERIS in the 4th quarter worth about $32,687,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of NYSE STE traded down $1.19 during midday trading on Friday, hitting $218.12. The company’s stock had a trading volume of 832,075 shares, compared to its average volume of 445,017. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. The firm’s fifty day moving average price is $218.42 and its 200-day moving average price is $220.53. The firm has a market cap of $21.56 billion, a P/E ratio of 57.10 and a beta of 0.85. STERIS plc has a 1-year low of $195.47 and a 1-year high of $254.00.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.17. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. STERIS had a net margin of 6.95% and a return on equity of 13.73%. STERIS’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 EPS. On average, sell-side analysts forecast that STERIS plc will post 9.24 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, June 12th. STERIS’s dividend payout ratio is currently 54.45%.

Insider Transactions at STERIS

In other news, SVP Cary L. Majors sold 2,024 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Cary L. Majors sold 2,024 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $232.13, for a total transaction of $469,831.12. Following the completion of the sale, the senior vice president now owns 11,369 shares in the company, valued at $2,639,085.97. The disclosure for this sale can be found here. In the last three months, insiders sold 7,762 shares of company stock valued at $1,798,477. Company insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, May 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target (up from $220.00) on shares of STERIS in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $241.60.

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.