Congress Asset Management Co. MA reduced its holdings in STERIS plc (NYSE:STE – Get Rating) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 605,207 shares of the medical equipment provider’s stock after selling 4,959 shares during the period. STERIS comprises 1.2% of Congress Asset Management Co. MA’s holdings, making the stock its 17th biggest position. Congress Asset Management Co. MA’s holdings in STERIS were worth $146,321,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in STE. Castleview Partners LLC purchased a new stake in STERIS during the fourth quarter worth $51,000. Destiny Wealth Partners LLC purchased a new stake in STERIS during the fourth quarter worth $64,000. Quent Capital LLC purchased a new stake in STERIS during the fourth quarter worth $72,000. AdvisorNet Financial Inc boosted its holdings in STERIS by 34.3% during the fourth quarter. AdvisorNet Financial Inc now owns 309 shares of the medical equipment provider’s stock worth $75,000 after buying an additional 79 shares in the last quarter. Finally, Aquire Wealth Advisors LLC acquired a new position in STERIS during the fourth quarter worth $93,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.
STERIS stock traded up $0.48 during midday trading on Wednesday, hitting $205.03. 1,489 shares of the stock were exchanged, compared to its average volume of 495,886. STERIS plc has a fifty-two week low of $192.40 and a fifty-two week high of $255.93. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 85.59 and a beta of 0.67. The stock’s 50-day simple moving average is $220.59 and its 200 day simple moving average is $229.71. The company has a current ratio of 2.04, a quick ratio of 1.41 and a debt-to-equity ratio of 0.45.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Investors of record on Tuesday, June 14th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, June 13th. STERIS’s payout ratio is currently 71.97%.
A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Wednesday, June 15th. Wolfe Research assumed coverage on shares of STERIS in a research report on Tuesday, April 5th. They set an “outperform” rating and a $275.00 price objective for the company. Finally, TheStreet cut shares of STERIS from a “b-” rating to a “c” rating in a research report on Thursday, June 16th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, STERIS currently has an average rating of “Buy” and a consensus price target of $264.00.
In related news, VP John Adam Zangerle sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $255.48, for a total transaction of $2,043,840.00. Following the completion of the sale, the vice president now directly owns 31,023 shares in the company, valued at $7,925,756.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 18,659 shares of company stock valued at $4,589,759. 1.14% of the stock is owned by company insiders.
STERIS Profile (Get Rating)
STERIS plc provides infection prevention and other procedural 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; accessories for gastrointestinal (GI) procedures, 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.
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