Nordea Investment Management AB Increases Position in STERIS plc (NYSE:STE)

Nordea Investment Management AB lifted its holdings in STERIS plc (NYSE:STE) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,570 shares of the medical equipment provider’s stock after buying an additional 269 shares during the period. Nordea Investment Management AB’s holdings in STERIS were worth $1,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STE. Vanguard Group Inc. raised its holdings in shares of STERIS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock worth $2,608,434,000 after purchasing an additional 53,526 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of STERIS by 1.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,811,818 shares of the medical equipment provider’s stock worth $1,277,728,000 after purchasing an additional 77,152 shares during the period. Norges Bank bought a new stake in shares of STERIS in the 4th quarter worth approximately $220,954,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of STERIS by 4.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 976,402 shares of the medical equipment provider’s stock worth $208,491,000 after purchasing an additional 44,781 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in STERIS by 419.1% during the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock valued at $211,430,000 after acquiring an additional 779,038 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STE. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. JMP Securities reissued a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, May 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $225.00 target price (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.60.

STERIS Trading Up 1.2 %

STERIS stock opened at $217.89 on Friday. The stock has a market cap of $21.54 billion, a P/E ratio of 57.04 and a beta of 0.83. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $254.00. The firm’s fifty day moving average price is $222.52 and its 200-day moving average price is $221.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business earned $2.30 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that STERIS plc will post 9.24 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 annualized dividend and a yield of 0.95%. STERIS’s dividend payout ratio (DPR) is presently 54.45%.

Insider Buying and Selling at STERIS

In other STERIS news, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $231.64, for a total transaction of $267,312.56. Following the completion of the sale, the vice president now directly owns 6,677 shares in the company, valued at $1,546,660.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares in the company, valued at $2,639,085.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $231.64, for a total transaction of $267,312.56. Following the sale, the vice president now owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The disclosure for this sale can be found here. Insiders sold a total of 7,762 shares of company stock worth $1,798,477 over the last three months. Company insiders own 1.14% of the company’s stock.

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.