Sit Investment Associates Inc. Increases Holdings in Steris PLC (NYSE:STE)

Sit Investment Associates Inc. raised its holdings in shares of Steris PLC (NYSE:STE) by 2.0% in the first quarter, Holdings Channel reports. The institutional investor owned 17,375 shares of the medical equipment provider’s stock after acquiring an additional 335 shares during the period. Sit Investment Associates Inc.’s holdings in Steris were worth $2,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its holdings in Steris by 6.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 65,660 shares of the medical equipment provider’s stock valued at $7,016,000 after buying an additional 4,229 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Steris by 3.9% in the first quarter. Texas Permanent School Fund now owns 57,433 shares of the medical equipment provider’s stock worth $7,353,000 after purchasing an additional 2,137 shares in the last quarter. Twin Capital Management Inc. increased its stake in shares of Steris by 0.6% in the first quarter. Twin Capital Management Inc. now owns 34,440 shares of the medical equipment provider’s stock worth $4,409,000 after purchasing an additional 200 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of Steris in the fourth quarter worth $1,930,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Steris by 7.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,470 shares of the medical equipment provider’s stock worth $2,936,000 after purchasing an additional 1,845 shares in the last quarter. 83.37% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE STE opened at $140.43 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 1.82. The firm has a market capitalization of $11.87 billion, a PE ratio of 28.72 and a beta of 0.96. Steris PLC has a 1 year low of $99.14 and a 1 year high of $142.98.

Steris (NYSE:STE) last announced its quarterly earnings data on Monday, May 13th. The medical equipment provider reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.09. Steris had a net margin of 10.93% and a return on equity of 13.34%. The firm had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $738.87 million. During the same period in the prior year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts predict that Steris PLC will post 5.37 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 12th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. Steris’s dividend payout ratio is 27.81%.

In related news, CEO Walter M. Rosebrough, Jr. sold 119,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $132.56, for a total transaction of $15,774,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Walter M. Rosebrough, Jr. sold 50,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $125.00, for a total transaction of $6,250,000.00. Following the transaction, the chief executive officer now owns 98,895 shares of the company’s stock, valued at approximately $12,361,875. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,785 shares of company stock valued at $34,402,980. 2.36% of the stock is owned by company insiders.

A number of analysts have recently issued reports on the stock. JMP Securities increased their price objective on shares of Steris from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 22nd. Stephens increased their price objective on shares of Steris from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. KeyCorp increased their price objective on shares of Steris from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Finally, Zacks Investment Research raised shares of Steris from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a buy rating, Steris has a consensus rating of “Buy” and a consensus price target of $148.20.

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Steris Profile

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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Institutional Ownership by Quarter for Steris (NYSE:STE)

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