Cinctive Capital Management LP Takes $6.45 Million Position in STERIS plc (NYSE:STE)

Cinctive Capital Management LP purchased a new position in shares of STERIS plc (NYSE:STE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,575 shares of the medical equipment provider’s stock, valued at approximately $6,446,000.

A number of other institutional investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its position in shares of STERIS by 11.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,972 shares of the medical equipment provider’s stock valued at $433,000 after acquiring an additional 209 shares during the last quarter. Atria Investments Inc increased its position in shares of STERIS by 5.6% during the 1st quarter. Atria Investments Inc now owns 9,322 shares of the medical equipment provider’s stock valued at $2,096,000 after purchasing an additional 493 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of STERIS by 215.1% during the 1st quarter. Cetera Investment Advisers now owns 12,330 shares of the medical equipment provider’s stock worth $2,772,000 after purchasing an additional 8,417 shares during the period. Cetera Advisors LLC boosted its holdings in shares of STERIS by 53.7% in the 1st quarter. Cetera Advisors LLC now owns 4,164 shares of the medical equipment provider’s stock worth $936,000 after buying an additional 1,455 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in STERIS by 2.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,704 shares of the medical equipment provider’s stock valued at $7,341,000 after buying an additional 629 shares during the period. 94.69% of the stock is owned by institutional investors.

STERIS Stock Performance

NYSE:STE opened at $219.06 on Monday. The stock has a market cap of $21.62 billion, a P/E ratio of 50.01 and a beta of 0.85. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $225.01 and its two-hundred day moving average price is $228.23. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. STERIS’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.03 earnings per share. As a group, equities analysts predict that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.04%. STERIS’s dividend payout ratio is presently 52.05%.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on STE. Stephens reiterated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Monday, November 18th. KeyCorp boosted their price objective on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Company 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.