State of Alaska Department of Revenue Raises Stake in STERIS plc (NYSE:STE)

State of Alaska Department of Revenue grew its holdings in STERIS plc (NYSE:STE) by 6.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,455 shares of the medical equipment provider’s stock after buying an additional 735 shares during the period. State of Alaska Department of Revenue’s holdings in STERIS were worth $2,778,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. GHP Investment Advisors Inc. increased its position in STERIS by 1.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 56,085 shares of the medical equipment provider’s stock valued at $13,603,000 after acquiring an additional 1,015 shares during the period. Boston Trust Walden Corp grew its stake in shares of STERIS by 0.3% in the 3rd quarter. Boston Trust Walden Corp now owns 44,912 shares of the medical equipment provider’s stock valued at $10,893,000 after purchasing an additional 118 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of STERIS by 32.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,705 shares of the medical equipment provider’s stock valued at $1,869,000 after purchasing an additional 1,904 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of STERIS by 25.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,387 shares of the medical equipment provider’s stock valued at $2,005,000 after purchasing an additional 1,713 shares during the period. Finally, Mediolanum International Funds Ltd raised its stake in shares of STERIS by 24.4% during the third quarter. Mediolanum International Funds Ltd now owns 69,567 shares of the medical equipment provider’s stock worth $16,602,000 after purchasing an additional 13,651 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

STE has been the topic of several recent research reports. KeyCorp boosted their price objective 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. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, STERIS currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Trading Down 1.2 %

Shares of STE opened at $221.80 on Friday. The firm’s 50-day moving average is $234.18 and its two-hundred day moving average is $226.71. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $21.87 billion, a P/E ratio of 55.04 and a beta of 0.84.

STERIS (NYSE:STE) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 EPS. On average, research analysts predict that STERIS plc will post 9.06 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Christopher S. Holland sold 473 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now owns 582 shares in the company, valued at $139,493.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

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.