Connable Office Inc. purchased a new position in Steris PLC (NYSE:STE) during the 3rd quarter, HoldingsChannel reports. The fund purchased 6,211 shares of the medical equipment provider’s stock, valued at approximately $711,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Steris by 118.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 909 shares of the medical equipment provider’s stock worth $104,000 after purchasing an additional 492 shares during the period. First Hawaiian Bank bought a new position in shares of Steris in the third quarter worth $106,000. Point72 Hong Kong Ltd bought a new position in shares of Steris in the second quarter worth $116,000. Fort L.P. bought a new position in shares of Steris in the second quarter worth $121,000. Finally, Parallel Advisors LLC increased its holdings in shares of Steris by 480.4% in the third quarter. Parallel Advisors LLC now owns 1,364 shares of the medical equipment provider’s stock worth $156,000 after purchasing an additional 1,129 shares during the period. 89.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:STE opened at $120.70 on Friday. Steris PLC has a 52-week low of $82.88 and a 52-week high of $121.67. The firm has a market capitalization of $9.93 billion, a P/E ratio of 29.08 and a beta of 1.03. The company has a quick ratio of 2.02, a current ratio of 2.63 and a debt-to-equity ratio of 0.41.
Steris (NYSE:STE) last announced its earnings results on Tuesday, November 6th. The medical equipment provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. Steris had a net margin of 11.72% and a return on equity of 12.15%. The company had revenue of $679.00 million during the quarter, compared to analyst estimates of $659.14 million. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Steris PLC will post 4.71 EPS for the current year.
In related news, VP Karen L. Burton sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $114.39, for a total value of $148,707.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $120.50, for a total transaction of $1,205,000.00. The disclosure for this sale can be found here. Insiders sold 45,800 shares of company stock valued at $5,464,727 over the last quarter. 2.38% of the stock is owned by company insiders.
Several research analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Steris from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 9th. Stephens reaffirmed a “buy” rating and issued a $125.00 price target on shares of Steris in a report on Thursday, August 9th. JMP Securities upped their price target on shares of Steris from $113.00 to $125.00 and gave the stock a “market outperform” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research raised shares of Steris from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Steris presently has an average rating of “Buy” and a consensus price target of $100.86.
STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
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