STERIS plc $STE Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in STERIS plc (NYSE:STE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,468 shares of the medical equipment provider’s stock, valued at approximately $5,559,000.

A number of other large investors have also recently made changes to their positions in STE. Western Wealth Management LLC purchased a new position in shares of STERIS during the first quarter valued at approximately $25,000. Elevation Wealth Partners LLC boosted its holdings in STERIS by 1,130.0% in the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 113 shares during the last quarter. Trust Co. of Vermont purchased a new stake in STERIS in the second quarter worth approximately $41,000. Community Financial Services Group LLC boosted its holdings in STERIS by 50.0% in the third quarter. Community Financial Services Group LLC now owns 216 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 72 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH bought a new stake in STERIS in the 3rd quarter worth approximately $73,000. 94.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STE has been the subject of a number of research reports. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. UBS Group lowered their price target on STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Piper Sandler restated an “overweight” rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of STERIS in a report on Monday, August 24th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $271.33.

Insider Transactions at STERIS

In related news, Director Mohsen Sohi sold 4,058 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the sale, the director directly 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.12% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $254.62 on Friday. The stock has a 50-day simple moving average of $220.19 and a two-hundred day simple moving average of $224.74. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. The firm has a market capitalization of $24.83 billion, a PE ratio of 30.20 and a beta of 0.86.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 4th. The medical equipment provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.68 by $0.26. STERIS had a return on equity of 14.84% and a net margin of 13.41%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company earned $2.47 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that STERIS plc will post 11.17 EPS for the current year.

STERIS Dividend Announcement

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

STERIS Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.