Vaughan Nelson Investment Management L.P. Takes $831,000 Position in STERIS plc (NYSE:STE)

Vaughan Nelson Investment Management L.P. acquired a new position in shares of STERIS plc (NYSE:STE - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,425 shares of the medical equipment provider's stock, valued at approximately $831,000.

Several other hedge funds also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in shares of STERIS during the 3rd quarter worth about $25,000. Central Pacific Bank Trust Division acquired a new stake in STERIS in the third quarter valued at approximately $28,000. Quent Capital LLC increased its holdings in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. Versant Capital Management Inc raised its position in shares of STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider's stock worth $41,000 after purchasing an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in 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 purchasing an additional 116 shares during the period. Institutional investors own 94.69% of the company's stock.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the business'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 sale, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on STE shares. JMP Securities restated a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a report on Monday. Stephens reissued an "overweight" rating and set a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. Piper Sandler raised STERIS from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. KeyCorp increased their price target on STERIS from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Tuesday, September 3rd. Finally, StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $253.00.

STERIS Stock Performance

STE traded down $3.08 during trading on Monday, hitting $217.04. 599,428 shares of the company traded hands, compared to its average volume of 493,166. STERIS plc has a one year low of $195.47 and a one year high of $248.24. The stock's fifty day moving average is $230.37 and its 200 day moving average is $228.59. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a market cap of $21.42 billion, a P/E ratio of 50.20 and a beta of 0.85.

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, topping the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $2.03 EPS. STERIS's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently declared 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. 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 1.05%. STERIS's dividend payout ratio is presently 52.05%.

STERIS 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.