GDS Wealth Management Raises Stake in STERIS plc (NYSE:STE)

GDS Wealth Management increased its stake in STERIS plc (NYSE:STE - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,155 shares of the medical equipment provider's stock after acquiring an additional 4,063 shares during the period. GDS Wealth Management owned approximately 0.06% of STERIS worth $13,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of STERIS by 13.7% in 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 buying an additional 778,613 shares during the period. Assenagon Asset Management S.A. lifted its stake in STERIS by 7,418.7% in the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider's stock worth $75,132,000 after acquiring an additional 305,651 shares during the last quarter. Impax Asset Management Group plc grew its holdings in STERIS by 29.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider's stock worth $251,663,000 after acquiring an additional 263,383 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of STERIS by 1,946.3% in the 2nd quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider's stock valued at $59,344,000 after purchasing an additional 257,101 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of STERIS by 7.5% during the first 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 purchasing an additional 120,616 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of NYSE:STE traded up $2.23 during trading on Monday, reaching $221.42. The company had a trading volume of 343,939 shares, compared to its average volume of 489,804. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.49. The stock's fifty day moving average price is $232.29 and its 200 day moving average price is $227.97. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 50.63 and a beta of 0.85.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $2.03 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. As a group, 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 given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. STERIS's payout ratio is currently 52.05%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Piper Sandler upgraded shares of STERIS from a "neutral" rating to an "overweight" rating and upped their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Stephens reissued an "overweight" rating and issued a $260.00 price target on shares of STERIS in a research report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a report on Friday. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

Insider Activity at STERIS

In other 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 value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.14% of the company's stock.

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.