Schwab Charles Investment Management Inc. Raises Position in Steris PLC (STE)
Schwab Charles Investment Management Inc. raised its position in shares of Steris PLC (NYSE:STE) by 6.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 346,617 shares of the medical equipment provider’s stock after purchasing an additional 20,932 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.41% of Steris worth $30,641,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in STE. Citigroup Inc. bought a new stake in Steris during the 2nd quarter valued at about $206,000. Van Cleef Asset Management Inc bought a new stake in Steris during the 2nd quarter valued at about $208,000. Cigna Investments Inc. New bought a new stake in Steris during the 2nd quarter valued at about $209,000. BT Investment Management Ltd bought a new stake in Steris during the 2nd quarter valued at about $210,000. Finally, Allegis Investment Advisors LLC bought a new stake in Steris during the 2nd quarter valued at about $251,000. Institutional investors and hedge funds own 89.45% of the company’s stock.
A number of brokerages have recently commented on STE. TD Securities lifted their price target on shares of Steris from C$14.00 to C$16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of Steris from a “buy” rating to a “sell” rating in a research note on Monday, November 6th. KeyCorp reiterated an “overweight” rating and issued a $101.00 price target (up from $91.00) on shares of Steris in a research note on Thursday, November 2nd. Finally, Raymond James Financial raised their price objective on shares of Steris from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $79.50.
Steris (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The business had revenue of $634.20 million during the quarter, compared to analysts’ expectations of $629.02 million. Steris had a return on equity of 11.49% and a net margin of 5.59%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. research analysts predict that Steris PLC will post 4.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, November 21st. Steris’s dividend payout ratio is currently 73.81%.
In other news, insider Michael J. Tokich sold 12,000 shares of Steris stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $89.75, for a total transaction of $1,077,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of Steris stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $90.50, for a total transaction of $905,000.00. The disclosure for this sale can be found here. Insiders have sold 36,650 shares of company stock worth $3,315,200 in the last ninety days. Insiders own 2.55% of the company’s stock.
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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