Axa reduced its position in Steris PLC (NYSE:STE) by 30.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,500 shares of the medical equipment provider’s stock after selling 3,270 shares during the period. Axa’s holdings in Steris were worth $858,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in STE. Eagle Asset Management Inc. boosted its position in Steris by 13.3% in the third quarter. Eagle Asset Management Inc. now owns 28,454 shares of the medical equipment provider’s stock valued at $3,255,000 after buying an additional 3,332 shares during the last quarter. Zeke Capital Advisors LLC purchased a new stake in Steris in the third quarter valued at approximately $1,420,000. MML Investors Services LLC boosted its position in Steris by 159.8% in the third quarter. MML Investors Services LLC now owns 19,462 shares of the medical equipment provider’s stock valued at $2,226,000 after buying an additional 11,971 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Steris in the third quarter valued at approximately $344,000. Finally, Stone Ridge Asset Management LLC boosted its position in Steris by 80.3% in the third quarter. Stone Ridge Asset Management LLC now owns 6,901 shares of the medical equipment provider’s stock valued at $789,000 after buying an additional 3,074 shares during the last quarter. Hedge funds and other institutional investors own 88.35% of the company’s stock.
In related news, insider Michael J. Tokich sold 34,500 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $119.16, for a total value of $4,111,020.00. Following the completion of the transaction, the insider now directly owns 64,958 shares of the company’s stock, valued at approximately $7,740,395.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $120.50, for a total value of $1,205,000.00. The disclosure for this sale can be found here. 2.38% of the stock is currently owned by corporate insiders.
STE has been the topic of several recent research reports. Sidoti upped their price objective on Steris from $155.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research restated a “buy” rating and issued a $132.00 price objective on shares of Steris in a research report on Friday, November 16th. Finally, KeyCorp upped their target price on Steris from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $124.71.
NYSE STE opened at $113.94 on Friday. Steris PLC has a one year low of $82.88 and a one year high of $121.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.63 and a quick ratio of 2.01. The firm has a market capitalization of $10.07 billion, a P/E ratio of 27.46 and a beta of 1.05.
Steris (NYSE:STE) last posted its quarterly earnings data on Tuesday, November 6th. The medical equipment provider reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02. Steris had a return on equity of 12.15% and a net margin of 11.72%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $659.14 million. During the same period in the prior year, the company earned $0.94 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Steris PLC will post 4.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Wednesday, November 28th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.19%. The ex-dividend date is Tuesday, November 27th. Steris’s dividend payout ratio is currently 32.77%.
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STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
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