LMR Partners LLP Makes New $1.47 Million Investment in STERIS plc (NYSE:STE)

LMR Partners LLP purchased a new stake in STERIS plc (NYSE:STE - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,072 shares of the medical equipment provider's stock, valued at approximately $1,473,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Aljian Capital Management LLC purchased a new stake in STERIS during the 3rd quarter valued at about $776,000. Swiss National Bank lifted its stake in shares of STERIS by 0.3% in the 3rd quarter. Swiss National Bank now owns 293,360 shares of the medical equipment provider's stock valued at $71,152,000 after purchasing an additional 800 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of STERIS during the 3rd quarter worth about $831,000. Maxwell Wealth Strategies Inc. boosted its position in STERIS by 37.0% during the third quarter. Maxwell Wealth Strategies Inc. now owns 8,856 shares of the medical equipment provider's stock worth $2,014,000 after purchasing an additional 2,393 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its stake in STERIS by 191.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 22,232 shares of the medical equipment provider's stock valued at $5,392,000 after acquiring an additional 14,609 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Price Performance

Shares of STE stock traded down $4.53 during trading hours on Tuesday, reaching $211.98. The company had a trading volume of 511,364 shares, compared to its average volume of 493,247. 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 quick ratio of 1.55 and a current ratio of 2.41. The company has a market capitalization of $20.92 billion, a price-to-earnings ratio of 48.40 and a beta of 0.85. The stock has a fifty day moving average of $229.80 and a 200-day moving average of $228.66.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.03 EPS. On average, equities analysts anticipate that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The company 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. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.08%. STERIS's dividend payout ratio (DPR) is 52.05%.

Analysts Set New Price Targets

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

Insider Transactions at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the 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 completion of the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.