LRI Investments LLC Acquires 16,713 Shares of STERIS plc (NYSE:STE)

LRI Investments LLC grew its stake in shares of STERIS plc (NYSE:STE - Free Report) by 30,387.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,768 shares of the medical equipment provider's stock after acquiring an additional 16,713 shares during the quarter. LRI Investments LLC's holdings in STERIS were worth $4,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of STERIS during the 3rd quarter valued at approximately $25,000. Central Pacific Bank Trust Division purchased a new position in shares of STERIS in the third quarter worth $28,000. Brown Brothers Harriman & Co. boosted its holdings in shares of STERIS by 154.7% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 116 shares during the last quarter. Isthmus Partners LLC purchased a new position in STERIS in the second quarter valued at $44,000. Finally, American National Bank purchased a new position in STERIS in the 2nd quarter valued at about $53,000. 94.69% of the stock is owned by institutional investors.

STERIS Stock Down 0.1 %

NYSE STE traded down $0.26 on Monday, reaching $215.63. The company had a trading volume of 434,495 shares, compared to its average volume of 498,998. The company's fifty day moving average is $222.94 and its 200-day moving average is $227.73. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 49.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41.

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, beating the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts forecast that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS's dividend payout ratio (DPR) is 52.05%.

Insider Transactions at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 42,930 shares of the company's stock, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cary L. Majors sold 1,682 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares of the company's stock, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company's stock.

Wall Street Analysts Forecast Growth

STE has been the topic of several research reports. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 3rd. 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 reissued a "hold" rating on shares of STERIS in a research report on Friday, November 8th. Piper Sandler upgraded STERIS from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $262.50.

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.