Copeland Capital Management LLC cut its stake in Steris PLC (NYSE:STE) by 9.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 271,759 shares of the medical equipment provider’s stock after selling 27,455 shares during the quarter. Steris comprises about 1.9% of Copeland Capital Management LLC’s holdings, making the stock its 3rd largest position. Copeland Capital Management LLC’s holdings in Steris were worth $31,089,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in STE. WCM Investment Management CA grew its position in Steris by 122.3% in the third quarter. WCM Investment Management CA now owns 2,278,403 shares of the medical equipment provider’s stock worth $260,650,000 after acquiring an additional 1,253,653 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Steris by 100.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,127,301 shares of the medical equipment provider’s stock worth $123,673,000 after acquiring an additional 563,939 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Steris in the second quarter worth $25,843,000. Fiera Capital Corp purchased a new position in Steris in the second quarter worth $25,099,000. Finally, BlackRock Inc. grew its position in Steris by 1.8% in the second quarter. BlackRock Inc. now owns 7,608,114 shares of the medical equipment provider’s stock worth $798,929,000 after acquiring an additional 131,142 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.
Shares of NYSE:STE opened at $111.87 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.65 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $9.46 billion, a P/E ratio of 26.96 and a beta of 1.03. Steris PLC has a 52-week low of $82.88 and a 52-week high of $117.48.
Steris (NYSE:STE) last posted its quarterly earnings results on Wednesday, August 8th. The medical equipment provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.01. The business had revenue of $638.76 million during the quarter, compared to the consensus estimate of $638.63 million. Steris had a net margin of 11.42% and a return on equity of 11.80%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts predict that Steris PLC will post 4.71 EPS for the current year.
Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Steris from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. KeyCorp upped their target price on shares of Steris from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 9th. Stephens reiterated a “buy” rating and issued a $125.00 target price on shares of Steris in a research report on Thursday, August 9th. Finally, JMP Securities upped their target price on shares of Steris from $113.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $100.86.
In other Steris news, VP Karen L. Burton sold 1,300 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $114.39, for a total value of $148,707.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.38% of the company’s stock.
Steris Company Profile
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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