Mediolanum International Funds Ltd Raises Stake in STERIS plc (NYSE:STE)

Mediolanum International Funds Ltd increased its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 24.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,567 shares of the medical equipment provider's stock after acquiring an additional 13,651 shares during the quarter. Mediolanum International Funds Ltd owned about 0.07% of STERIS worth $16,602,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STE. Values First Advisors Inc. acquired a new stake in STERIS during the third quarter worth about $219,000. Assenagon Asset Management S.A. grew its stake in shares of STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider's stock valued at $75,132,000 after buying an additional 305,651 shares during the period. Taylor Frigon Capital Management LLC raised its position in shares of STERIS by 1.7% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 6,281 shares of the medical equipment provider's stock valued at $1,523,000 after buying an additional 106 shares during the period. Riverwater Partners LLC lifted its holdings in STERIS by 21.7% in the third quarter. Riverwater Partners LLC now owns 4,847 shares of the medical equipment provider's stock valued at $1,138,000 after acquiring an additional 864 shares during the last quarter. Finally, Waldron Private Wealth LLC increased its stake in STERIS by 102.2% during the third quarter. Waldron Private Wealth LLC now owns 2,346 shares of the medical equipment provider's stock worth $569,000 after acquiring an additional 1,186 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Down 1.4 %

Shares of STE stock traded down $3.12 during trading on Friday, reaching $224.12. The company's stock had a trading volume of 409,539 shares, compared to its average volume of 474,136. The company has a market capitalization of $22.10 billion, a price-to-earnings ratio of 55.61 and a beta of 0.84. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The stock's 50-day moving average price is $234.76 and its 200 day moving average price is $226.26.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the firm earned $2.00 earnings per share. The company's revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts anticipate that STERIS plc will post 9.06 EPS for the current year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. This is an increase from STERIS's previous quarterly dividend of $0.52. STERIS's payout ratio is currently 56.58%.

Insiders Place Their Bets

In other news, CFO Michael J. Tokich sold 23,332 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were 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 directly owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Michael J. Tokich sold 23,332 shares of the company's stock in a transaction that occurred 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 directly owns 42,930 shares of the company's stock, valued at $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now owns 582 shares in the company, valued at $139,493.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. KeyCorp increased their price target on STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Stephens reaffirmed an "overweight" rating and set a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research note on Thursday, August 8th. Piper Sandler raised shares of STERIS from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $230.00 to $260.00 in a research report on Thursday. Finally, StockNews.com raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

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.