ING Groep NV Makes New $1.07 Million Investment in STERIS plc (NYSE:STE)

ING Groep NV bought a new position in shares of STERIS plc (NYSE:STE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,389 shares of the medical equipment provider's stock, valued at approximately $1,065,000.

Several other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC boosted its position in STERIS by 112.7% during the 1st 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. TIAA Trust National Association boosted its holdings in shares of STERIS by 15.6% in the 1st quarter. TIAA Trust National Association now owns 1,798 shares of the medical equipment provider's stock worth $404,000 after buying an additional 242 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of STERIS in the 1st quarter worth about $1,539,000. Covestor Ltd boosted its holdings in shares of STERIS by 745.8% in the 1st quarter. Covestor Ltd now owns 609 shares of the medical equipment provider's stock worth $137,000 after buying an additional 537 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of STERIS by 3.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,164 shares of the medical equipment provider's stock worth $3,184,000 after buying an additional 413 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Michael J. Tokich sold 23,332 shares of the business'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 sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on STE. Piper Sandler raised shares of STERIS from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $230.00 to $260.00 in a report on Thursday, October 24th. StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Friday, November 8th. Stephens restated an "overweight" rating and set a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. Finally, KeyCorp upped their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $253.00.

STERIS Stock Down 1.4 %

NYSE STE traded down $3.03 during trading on Monday, hitting $217.09. The company's stock had a trading volume of 593,369 shares, compared to its average volume of 493,138. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The company has a market cap of $21.43 billion, a PE ratio of 50.20 and a beta of 0.85. 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 business's 50 day simple moving average is $230.37 and its 200-day simple moving average is $228.59.

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. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. On average, equities analysts anticipate that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS's dividend payout ratio (DPR) is presently 52.05%.

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.