Lord Abbett & CO. LLC Buys 13,366 Shares of STERIS plc (NYSE:STE)

Lord Abbett & CO. LLC boosted its stake in shares of STERIS plc (NYSE:STE) by 7.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 201,183 shares of the medical equipment provider’s stock after purchasing an additional 13,366 shares during the period. Lord Abbett & CO. LLC’s holdings in STERIS were worth $41,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in STERIS by 0.3% during the first quarter. BlackRock Inc. now owns 7,708,739 shares of the medical equipment provider’s stock worth $1,468,359,000 after acquiring an additional 20,392 shares during the last quarter. WCM Investment Management LLC increased its stake in STERIS by 1.3% during the second quarter. WCM Investment Management LLC now owns 6,854,535 shares of the medical equipment provider’s stock worth $1,414,091,000 after acquiring an additional 89,973 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in STERIS by 32.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,206,717 shares of the medical equipment provider’s stock worth $801,295,000 after acquiring an additional 1,019,527 shares during the last quarter. Generation Investment Management LLP increased its stake in STERIS by 604.8% during the first quarter. Generation Investment Management LLP now owns 3,154,271 shares of the medical equipment provider’s stock worth $600,826,000 after acquiring an additional 2,706,752 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in STERIS by 3.4% during the first quarter. Geode Capital Management LLC now owns 1,469,061 shares of the medical equipment provider’s stock worth $279,123,000 after acquiring an additional 48,879 shares during the last quarter. 90.80% of the stock is currently owned by institutional investors.

Several research analysts have issued reports on the company. Needham & Company LLC upgraded STERIS from a “hold” rating to a “buy” rating and set a $233.00 target price for the company in a research report on Wednesday, May 26th. Stephens boosted their target price on STERIS from $217.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 11th. KeyCorp boosted their target price on STERIS from $227.00 to $239.00 and gave the company an “overweight” rating in a research report on Wednesday, August 11th. Finally, Robert W. Baird boosted their target price on STERIS from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $239.83.

Shares of NYSE STE opened at $212.52 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.75. The firm has a market capitalization of $21.20 billion, a price-to-earnings ratio of 63.63 and a beta of 0.56. The stock has a 50 day moving average price of $214.56 and a 200 day moving average price of $204.30. STERIS plc has a 52-week low of $164.19 and a 52-week high of $226.00.

STERIS (NYSE:STE) last announced its quarterly earnings results on Monday, August 9th. The medical equipment provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.27. The firm had revenue of $968.40 million during the quarter, compared to analyst estimates of $904.90 million. STERIS had a return on equity of 12.81% and a net margin of 8.39%. STERIS’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 earnings per share. Analysts forecast that STERIS plc will post 7.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 3rd will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 2nd. This represents a $1.72 dividend on an annualized basis and a yield of 0.81%. This is a positive change from STERIS’s previous quarterly dividend of $0.40. STERIS’s dividend payout ratio is currently 27.88%.

In other STERIS news, VP Renato Tamaro sold 1,449 shares of the company’s stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $213.63, for a total transaction of $309,549.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.14% of the stock is owned by corporate insiders.

STERIS Profile

STERIS Plc engages in the provision of healthcare and life science product and service solutions. It operates through the following segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers portfolio of infection prevention, procedural, and gastrointestinal solutions.

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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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