Industrial Alliance Investment Management Inc. Has $325,000 Stock Position in STERIS plc (NYSE:STE)

Industrial Alliance Investment Management Inc. lifted its stake in STERIS plc (NYSE:STE) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,447 shares of the medical equipment provider’s stock after acquiring an additional 61 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in STERIS were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC grew its stake in shares of STERIS by 9.4% in the first quarter. Global Retirement Partners LLC now owns 570 shares of the medical equipment provider’s stock worth $128,000 after acquiring an additional 49 shares during the last quarter. First Hawaiian Bank boosted its stake in STERIS by 0.4% during the first quarter. First Hawaiian Bank now owns 13,857 shares of the medical equipment provider’s stock worth $3,115,000 after buying an additional 50 shares in the last quarter. UMB Bank n.a. boosted its stake in STERIS by 7.8% during the fourth quarter. UMB Bank n.a. now owns 716 shares of the medical equipment provider’s stock worth $157,000 after buying an additional 52 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in STERIS by 1.5% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,520 shares of the medical equipment provider’s stock worth $774,000 after buying an additional 53 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE STE traded up $0.92 during midday trading on Tuesday, reaching $237.24. 570,685 shares of the company traded hands, compared to its average volume of 482,091. The firm has a market cap of $23.45 billion, a PE ratio of 62.10 and a beta of 0.83. The stock’s 50-day simple moving average is $223.30 and its 200-day simple moving average is $221.93. STERIS plc has a 12 month low of $195.47 and a 12 month high of $254.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.17. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the business posted $2.30 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that STERIS plc will post 9.25 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.88%. STERIS’s dividend payout ratio is 54.45%.

Insider Activity at STERIS

In related news, VP Renato Tamaro sold 1,154 shares of STERIS stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $231.64, for a total value of $267,312.56. Following the completion of the transaction, the vice president now directly owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jacqueline B. Kosecoff sold 4,584 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Renato Tamaro sold 1,154 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the completion of the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The disclosure for this sale can be found here. Insiders sold 7,762 shares of company stock valued at $1,798,477 over the last ninety days. 1.14% of the stock is owned by insiders.

Analysts Set New Price Targets

STE has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, May 10th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.60.

About STERIS

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.