Assetmark Inc. Acquires 2,647 Shares of STERIS plc (NYSE:STE)

Assetmark Inc. grew its holdings in STERIS plc (NYSE:STE - Free Report) by 24.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,410 shares of the medical equipment provider's stock after acquiring an additional 2,647 shares during the quarter. Assetmark Inc.'s holdings in STERIS were worth $3,252,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Consolidated Planning Corp increased its holdings in shares of STERIS by 12.6% in the third quarter. Consolidated Planning Corp now owns 15,743 shares of the medical equipment provider's stock worth $3,818,000 after acquiring an additional 1,758 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of STERIS by 9.5% in the third quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider's stock worth $270,230,000 after acquiring an additional 96,336 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of STERIS by 4.4% in the third quarter. Concurrent Investment Advisors LLC now owns 7,652 shares of the medical equipment provider's stock worth $1,856,000 after acquiring an additional 323 shares in the last quarter. Marks Group Wealth Management Inc boosted its position in shares of STERIS by 1.6% during the third quarter. Marks Group Wealth Management Inc now owns 34,039 shares of the medical equipment provider's stock worth $8,256,000 after buying an additional 529 shares during the period. Finally, Fiduciary Family Office LLC boosted its position in shares of STERIS by 20.4% during the third quarter. Fiduciary Family Office LLC now owns 2,996 shares of the medical equipment provider's stock worth $727,000 after buying an additional 508 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on STE shares. KeyCorp upped their price objective on STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research report on Friday, November 8th. JMP Securities reaffirmed a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Stephens reaffirmed an "overweight" rating and set a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. Finally, Piper Sandler raised 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 research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $253.00.

Insiders Place Their Bets

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the firm's 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 transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.14% of the company's stock.

STERIS Stock Performance

NYSE:STE traded down $0.46 on Wednesday, hitting $222.27. The company's stock had a trading volume of 515,478 shares, compared to its average volume of 492,185. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $231.90 and a two-hundred day moving average of $228.11. The firm has a market capitalization of $21.94 billion, a P/E ratio of 50.75 and a beta of 0.85. STERIS plc has a one year low of $195.47 and a one year high of $248.24.

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 (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. The firm 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 business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 earnings per share. Research analysts predict that STERIS plc will post 9.15 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 paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. STERIS's dividend payout ratio (DPR) is currently 52.05%.

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.