STERIS plc $STE Shares Purchased by Running Oak Capital LLC

Running Oak Capital LLC lifted its stake in shares of STERIS plc (NYSE:STE) by 4.2% in the third quarter, HoldingsChannel.com reports. The fund owned 50,360 shares of the medical equipment provider’s stock after acquiring an additional 2,025 shares during the quarter. STERIS accounts for approximately 1.6% of Running Oak Capital LLC’s portfolio, making the stock its 27th largest position. Running Oak Capital LLC’s holdings in STERIS were worth $10,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of STERIS by 8.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,674 shares of the medical equipment provider’s stock valued at $978,000 after purchasing an additional 365 shares during the last quarter. Brighton Jones LLC lifted its position in STERIS by 11.5% in the 3rd quarter. Brighton Jones LLC now owns 3,102 shares of the medical equipment provider’s stock worth $651,000 after buying an additional 319 shares during the last quarter. Ethic Inc. boosted its stake in shares of STERIS by 21.5% in the 3rd quarter. Ethic Inc. now owns 20,408 shares of the medical equipment provider’s stock valued at $4,286,000 after purchasing an additional 3,612 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in STERIS by 31.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 10,500 shares of the medical equipment provider’s stock worth $2,205,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in STERIS by 11.9% in the third quarter. Parallel Advisors LLC now owns 943 shares of the medical equipment provider’s stock worth $198,000 after purchasing an additional 100 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Performance

NYSE STE opened at $257.42 on Tuesday. The business’s 50 day moving average price is $221.06 and its 200-day moving average price is $224.69. The company has a market cap of $25.10 billion, a P/E ratio of 30.54 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. STERIS had a return on equity of 14.84% and a net margin of 13.41%. STERIS’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.47 earnings per share. Sell-side analysts predict that STERIS plc will post 11.46 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 17th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.1%. STERIS’s payout ratio is presently 32.74%.

Insider Buying and Selling at STERIS

In related news, Director Mohsen Sohi sold 4,058 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the transaction, the director owned 24,305 shares of the company’s stock, valued at approximately $5,730,632.90. This represents a 14.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STE. KeyCorp raised their price target on STERIS from $269.00 to $284.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group cut their price objective on STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Wall Street Zen downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a research note on Monday, August 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $275.00 target price (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.33.

STERIS Company Profile

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures.

The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.