TIAA Trust National Association Acquires 242 Shares of STERIS plc (NYSE:STE)

TIAA Trust National Association increased its holdings in shares of STERIS plc (NYSE:STE) by 15.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,798 shares of the medical equipment provider’s stock after purchasing an additional 242 shares during the quarter. TIAA Trust National Association’s holdings in STERIS were worth $404,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of STE. First Personal Financial Services acquired a new position in STERIS in the 1st quarter worth $25,000. J.Safra Asset Management Corp lifted its holdings in shares of STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. Quent Capital LLC boosted its position in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares during the period. VisionPoint Advisory Group LLC bought a new position in shares of STERIS during the fourth quarter worth about $34,000. Finally, Headlands Technologies LLC acquired a new stake in STERIS in the 1st quarter valued at approximately $36,000. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of STE stock traded up $2.77 on Monday, hitting $227.06. 134,719 shares of the company’s stock were exchanged, compared to its average volume of 484,934. The company has a 50 day moving average of $223.53 and a 200 day moving average of $221.46. The stock has a market cap of $22.44 billion, a P/E ratio of 58.84 and a beta of 0.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.08 and a quick ratio of 2.36. STERIS plc has a 12 month low of $195.47 and a 12 month high of $254.00.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.30 earnings per share. On average, equities research analysts predict that STERIS plc will post 9.24 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, June 12th. STERIS’s payout ratio is 54.45%.

Insider Activity

In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the completion of the sale, the senior vice president now owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Renato Tamaro sold 1,154 shares of the firm’s 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 sale, the vice president now directly owns 6,677 shares in the company, valued at approximately $1,546,660.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Cary L. Majors sold 2,024 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the sale, the senior vice president now owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,762 shares of company stock valued at $1,798,477. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on STE. StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, May 10th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.60.

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.