Bancreek Capital Management LP Purchases 3,218 Shares of STERIS plc (NYSE:STE)

Bancreek Capital Management LP grew its holdings in STERIS plc (NYSE:STE - Free Report) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,047 shares of the medical equipment provider's stock after buying an additional 3,218 shares during the period. STERIS accounts for about 4.9% of Bancreek Capital Management LP's portfolio, making the stock its 12th biggest holding. Bancreek Capital Management LP's holdings in STERIS were worth $7,773,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in STE. Massachusetts Financial Services Co. MA lifted its holdings in STERIS by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider's stock valued at $1,414,453,000 after purchasing an additional 778,613 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of STERIS by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider's stock worth $390,880,000 after buying an additional 120,616 shares during the period. Impax Asset Management Group plc grew its stake in STERIS by 29.7% in the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider's stock valued at $251,663,000 after buying an additional 263,383 shares during the last quarter. Principal Financial Group Inc. grew its stake in STERIS by 9.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider's stock valued at $270,230,000 after buying an additional 96,336 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in STERIS by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 960,219 shares of the medical equipment provider's stock valued at $215,879,000 after acquiring an additional 16,632 shares during the period. 94.69% of the stock is currently owned by institutional investors.

STERIS Price Performance

Shares of STE stock traded down $0.88 on Wednesday, hitting $221.85. 264,916 shares of the company's stock were exchanged, compared to its average volume of 491,046. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The company has a 50 day moving average of $231.90 and a 200 day moving average of $228.11. The stock has a market cap of $21.90 billion, a P/E ratio of 50.77 and a beta of 0.85.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly 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 company 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%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $2.03 EPS. On average, equities research analysts predict that STERIS plc will post 9.15 EPS for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. STERIS's payout ratio is presently 52.05%.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was 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 $10,603,710. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stephens restated an "overweight" rating and set a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 29th. Piper Sandler upgraded shares of STERIS from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Friday, November 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $253.00.

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.