Public Employees Retirement Association of Colorado Has $25.38 Million Stock Position in STERIS plc (NYSE:STE)

Public Employees Retirement Association of Colorado trimmed its position in STERIS plc (NYSE:STE) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,881 shares of the medical equipment provider’s stock after selling 762 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in STERIS were worth $25,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of STE. Norges Bank acquired a new stake in shares of STERIS in the fourth quarter worth $220,954,000. Impax Asset Management Group plc increased its position in STERIS by 419.1% during the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after acquiring an additional 779,038 shares during the period. APG Asset Management US Inc. bought a new position in STERIS during the fourth quarter worth $74,963,000. Sustainable Growth Advisers LP increased its position in STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after acquiring an additional 282,387 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in STERIS by 71.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock worth $132,763,000 after acquiring an additional 252,200 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STE shares. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, May 10th. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.60.

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the transaction, the senior vice president now directly owns 11,369 shares in the company, valued at approximately $2,639,085.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Cary L. Majors sold 2,024 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Renato Tamaro sold 1,154 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $231.64, for a total value of $267,312.56. Following the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,762 shares of company stock worth $1,798,477. Company insiders own 1.14% of the company’s stock.

STERIS Price Performance

NYSE STE traded up $3.06 on Monday, hitting $235.85. 132,641 shares of the company were exchanged, compared to its average volume of 480,217. The firm has a 50 day moving average of $223.23 and a two-hundred day moving average of $221.83. The company has a market cap of $23.31 billion, a P/E ratio of 60.68 and a beta of 0.83. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. STERIS plc has a 1-year low of $195.47 and a 1-year high of $254.00.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts predict that STERIS plc will post 9.25 EPS for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a yield of 0.88%. STERIS’s payout ratio is presently 54.45%.

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.