Concurrent Investment Advisors LLC Increases Holdings in STERIS plc (NYSE:STE)

Concurrent Investment Advisors LLC increased its stake in STERIS plc (NYSE:STE) by 5.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,329 shares of the medical equipment provider’s stock after acquiring an additional 379 shares during the period. Concurrent Investment Advisors LLC’s holdings in STERIS were worth $1,609,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. First Personal Financial Services purchased a new position in shares of STERIS in the 1st quarter worth approximately $25,000. J.Safra Asset Management Corp lifted its position in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares during the last quarter. Quent Capital LLC boosted its stake in STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares during the period. VisionPoint Advisory Group LLC bought a new position in STERIS during the fourth quarter valued at $34,000. Finally, Headlands Technologies LLC purchased a new stake in shares of STERIS in the first quarter valued at $36,000. 94.69% of the stock is owned by institutional investors.

Insider Buying and Selling at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on STE. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Stephens reiterated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.60.

STERIS Stock Up 1.4 %

Shares of NYSE STE opened at $241.10 on Friday. STERIS plc has a 52-week low of $195.47 and a 52-week high of $243.37. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 63.12 and a beta of 0.83. The stock has a 50 day moving average price of $228.94 and a 200 day moving average price of $224.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33.

STERIS (NYSE:STE) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts expect that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.95%. This is a boost from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 5th. STERIS’s dividend payout ratio is presently 54.45%.

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.