SGL Investment Advisors Inc. Makes New $2.42 Million Investment in STERIS plc (NYSE:STE)

SGL Investment Advisors Inc. purchased a new position in STERIS plc (NYSE:STE - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,949 shares of the medical equipment provider's stock, valued at approximately $2,422,000.

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

Analyst Ratings Changes

STE has been the topic of a number of research analyst reports. StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a "hold" rating on shares of STERIS in a report on Friday, November 8th. KeyCorp raised their target price on STERIS from $255.00 to $265.00 and gave the company an "overweight" rating in a report on Tuesday, September 3rd. Piper Sandler upgraded STERIS from a "neutral" rating to an "overweight" rating and increased their price target for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, Stephens reiterated an "overweight" rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.50.

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares of the company's stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $10,603,710. This represents a 35.21 % 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 corporate insiders.

STERIS Price Performance

Shares of STERIS stock traded down $0.18 during trading on Monday, hitting $215.71. 232,290 shares of the company's stock traded hands, compared to its average volume of 498,571. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24. 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 company has a market cap of $21.29 billion, a PE ratio of 49.29 and a beta of 0.83. The firm's fifty day moving average price is $222.94 and its 200 day moving average price is $227.73.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. The company 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 company's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 EPS. Analysts forecast that STERIS plc will post 9.1 earnings per share for the current year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be issued a $0.57 dividend. 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 payout ratio is 52.05%.

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.