Thematics Asset Management Has $60.65 Million Stock Position in STERIS plc (NYSE:STE)

Thematics Asset Management trimmed its stake in STERIS plc (NYSE:STE) by 0.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 250,044 shares of the medical equipment provider’s stock after selling 566 shares during the period. STERIS accounts for about 2.4% of Thematics Asset Management’s investment portfolio, making the stock its 5th largest position. Thematics Asset Management owned approximately 0.25% of STERIS worth $60,646,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STE. Quent Capital LLC boosted its holdings in STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares during the period. Advisors Asset Management Inc. boosted its stake in STERIS by 3.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,681 shares of the medical equipment provider’s stock valued at $603,000 after purchasing an additional 101 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in STERIS by 11.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,972 shares of the medical equipment provider’s stock valued at $433,000 after buying an additional 209 shares during the last quarter. Tidal Investments LLC increased its position in STERIS by 110.9% in the 1st quarter. Tidal Investments LLC now owns 12,484 shares of the medical equipment provider’s stock worth $2,807,000 after buying an additional 6,565 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of STERIS by 3,015.2% during the first quarter. Plato Investment Management Ltd now owns 4,112 shares of the medical equipment provider’s stock worth $924,000 after buying an additional 3,980 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This represents a 35.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Price Performance

NYSE:STE traded down $1.65 during trading hours on Tuesday, reaching $214.47. The company had a trading volume of 28,504 shares, compared to its average volume of 496,412. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $226.73 and a two-hundred day moving average of $228.69. STERIS plc has a one year low of $195.47 and a one year high of $248.24. The firm has a market capitalization of $21.17 billion, a PE ratio of 49.35 and a beta of 0.85.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 EPS. Analysts forecast that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.06%. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

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.