Russell Investments Group Ltd. Buys 4,494 Shares of STERIS plc (NYSE:STE)

Russell Investments Group Ltd. lifted its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,841 shares of the medical equipment provider's stock after acquiring an additional 4,494 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of STERIS worth $13,235,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sustainable Growth Advisers LP increased its position in shares of STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider's stock worth $333,988,000 after acquiring an additional 282,387 shares during the last quarter. Headlands Technologies LLC bought a new stake in STERIS in the first quarter valued at about $36,000. Williams Jones Wealth Management LLC. increased its holdings in STERIS by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 605,576 shares of the medical equipment provider's stock valued at $136,146,000 after buying an additional 3,585 shares during the last quarter. Inspire Investing LLC bought a new stake in STERIS in the first quarter valued at about $2,954,000. Finally, NorthRock Partners LLC increased its holdings in STERIS by 46.0% in the first quarter. NorthRock Partners LLC now owns 1,521 shares of the medical equipment provider's stock valued at $342,000 after buying an additional 479 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at STERIS

In related news, Director Jacqueline B. Kosecoff sold 4,584 shares of the business's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Jacqueline B. Kosecoff sold 4,584 shares of the business's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Cary L. Majors sold 2,024 shares of the business's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the sale, the senior vice president now directly owns 11,369 shares in the company, valued at approximately $2,639,085.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,762 shares of company stock worth $1,798,477. Company insiders own 1.14% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on STE shares. StockNews.com raised STERIS from a "hold" rating to a "buy" rating in a report on Saturday, June 15th. JMP Securities reissued a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a report on Friday, May 10th. Finally, Piper Sandler restated a "neutral" rating and issued a $225.00 target price (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.60.

STERIS Stock Performance

STE stock traded down $1.15 during midday trading on Friday, reaching $224.30. The company had a trading volume of 386,940 shares, compared to its average volume of 487,472. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $223.67 and a 200 day moving average price of $221.34. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $254.00. The firm has a market capitalization of $22.17 billion, a PE ratio of 58.71 and a beta of 0.83.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The business's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 earnings per share. Analysts anticipate that STERIS plc will post 9.24 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.93%. STERIS's dividend payout ratio is presently 54.45%.

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.