New York Life Investment Management LLC Has $3.53 Million Stake in STERIS plc $STE

New York Life Investment Management LLC grew its position in shares of STERIS plc (NYSE:STE) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,711 shares of the medical equipment provider’s stock after buying an additional 67 shares during the quarter. New York Life Investment Management LLC’s holdings in STERIS were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Foresight Group Ltd Liability Partnership acquired a new stake in STERIS in the 1st quarter worth approximately $25,958,000. Ascent Group LLC acquired a new stake in STERIS in the 1st quarter worth approximately $261,000. Allianz Asset Management GmbH lifted its holdings in STERIS by 31.9% in the 1st quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider’s stock worth $23,229,000 after purchasing an additional 24,809 shares during the last quarter. Truist Financial Corp lifted its holdings in STERIS by 116.2% in the 2nd quarter. Truist Financial Corp now owns 31,064 shares of the medical equipment provider’s stock worth $7,462,000 after purchasing an additional 16,694 shares during the last quarter. Finally, NorthRock Partners LLC lifted its holdings in STERIS by 21.8% in the 2nd quarter. NorthRock Partners LLC now owns 1,290 shares of the medical equipment provider’s stock worth $310,000 after purchasing an additional 231 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. KeyCorp boosted their target price on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a report on Tuesday, October 14th. Finally, Morgan Stanley upped their price target on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.50.

STERIS Stock Down 0.4%

Shares of STE stock opened at $235.92 on Friday. STERIS plc has a 12 month low of $200.98 and a 12 month high of $253.00. The firm has a market cap of $23.24 billion, a PE ratio of 36.13 and a beta of 1.01. The stock has a 50 day moving average of $244.11 and a 200-day moving average of $237.83. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.03 earnings per share. On average, equities analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Tuesday, November 18th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, November 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. STERIS’s payout ratio is currently 38.59%.

Insider Buying and Selling at STERIS

In other news, Director Mohsen Sohi sold 4,110 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.96, for a total transaction of $994,455.60. Following the sale, the director directly owned 22,361 shares in the company, valued at approximately $5,410,467.56. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Renato Tamaro sold 3,204 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total value of $798,564.96. Following the sale, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This represents a 30.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,868 shares of company stock valued at $4,585,389 in the last quarter. 1.07% of the stock is currently owned by corporate insiders.

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.