Daiwa Securities Group Inc. Buys 1,276 Shares of STERIS plc (NYSE:STE)

Daiwa Securities Group Inc. raised its stake in shares of STERIS plc (NYSE:STE) by 10.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,724 shares of the medical equipment provider’s stock after acquiring an additional 1,276 shares during the quarter. Daiwa Securities Group Inc.’s holdings in STERIS were worth $3,329,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in STE. Massachusetts Financial Services Co. MA increased its position in shares of STERIS by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after purchasing an additional 778,613 shares in the last quarter. Impax Asset Management Group plc grew its stake in STERIS by 29.7% during the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after buying an additional 263,383 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of STERIS by 9.5% during 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 buying an additional 96,336 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of STERIS by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 840,194 shares of the medical equipment provider’s stock valued at $184,439,000 after acquiring an additional 95,412 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of STERIS by 1.5% in the third quarter. Raymond James & Associates now owns 801,144 shares of the medical equipment provider’s stock valued at $194,309,000 after acquiring an additional 12,005 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

Shares of STE opened at $217.47 on Thursday. The stock has a market cap of $21.47 billion, a P/E ratio of 49.65 and a beta of 0.85. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24. The stock’s 50-day moving average price is $225.80 and its two-hundred day moving average price is $228.51. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share 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 business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm earned $2.03 EPS. STERIS’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio is currently 52.05%.

Wall Street Analyst Weigh In

STE has been the subject of a number of recent analyst reports. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and raised their price target for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Stephens reissued an “overweight” rating and set a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, KeyCorp raised their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Buying and Selling

In other news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $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 company insiders.

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.