Driehaus Capital Management LLC purchased a new stake in shares of STERIS (NYSE:STE) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,760 shares of the medical equipment provider’s stock, valued at approximately $241,000.
Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of STERIS by 1,122.4% during the fourth quarter. Meeder Asset Management Inc. now owns 1,198 shares of the medical equipment provider’s stock valued at $104,000 after purchasing an additional 1,100 shares in the last quarter. YorkBridge Wealth Partners LLC acquired a new position in shares of STERIS in the fourth quarter worth approximately $113,000. Zions Bancorporation acquired a new position in shares of STERIS in the third quarter worth approximately $178,000. ARP Americas LP acquired a new position in shares of STERIS in the fourth quarter worth approximately $255,000. Finally, Oakbrook Investments LLC acquired a new position in shares of STERIS in the fourth quarter worth approximately $271,000. 89.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. Zacks Investment Research lowered STERIS from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James Financial reaffirmed a “market perform” rating and issued a $100.00 price objective on shares of STERIS in a research note on Wednesday, January 3rd. KeyCorp reaffirmed a “buy” rating and issued a $103.00 price objective on shares of STERIS in a research note on Thursday, February 8th. Finally, Northcoast Research set a $102.00 price objective on STERIS and gave the stock a “buy” rating in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $85.00.
In other news, VP Sudhir K. Pahwa sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $92.09, for a total transaction of $184,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Martin Steeves sold 58,953 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $91.00, for a total value of $5,364,723.00. Following the sale, the director now owns 9,362 shares of the company’s stock, valued at approximately $851,942. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,415 shares of company stock valued at $7,178,536. Corporate insiders own 2.55% of the company’s stock.
STE stock traded down $1.95 during mid-day trading on Friday, reaching $92.25. The company’s stock had a trading volume of 293,603 shares, compared to its average volume of 346,333. The company has a market cap of $7,827.23, a P/E ratio of 24.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.22 and a current ratio of 2.82. STERIS has a 12 month low of $69.12 and a 12 month high of $96.43.
STERIS (NYSE:STE) last issued its earnings results on Wednesday, February 7th. The medical equipment provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05. The business had revenue of $661.90 million during the quarter, compared to the consensus estimate of $663.17 million. STERIS had a return on equity of 11.57% and a net margin of 9.42%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. research analysts predict that STERIS will post 4.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th were issued a $0.31 dividend. This is an increase from STERIS’s previous quarterly dividend of $0.21. This represents a $1.24 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 27th. STERIS’s payout ratio is presently 32.98%.
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STERIS plc develops, manufactures, and markets infection prevention, contamination control, microbial reduction, and surgical and gastrointestinal support products and services for healthcare, pharmaceutical, scientific, research, industrial, and governmental customers worldwide. The company's Healthcare Products segment offers steam, vaporized hydrogen peroxide, and ethylene oxide sterilizers, as well as liquid chemical sterilant processing systems; automated washer/disinfector systems; general and specialty surgical tables, surgical and examination lights, equipment management systems, operating room storage cabinets, warming cabinets, scrub sinks, and other accessories; and gastrointestinal devices and accessories.
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