Tokio Marine Asset Management Co. Ltd. Buys 155 Shares of STERIS plc (NYSE:STE)

Tokio Marine Asset Management Co. Ltd. boosted its position in STERIS plc (NYSE:STE) by 5.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,942 shares of the medical equipment provider’s stock after purchasing an additional 155 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in STERIS were worth $714,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STE. West Coast Financial LLC boosted its position in shares of STERIS by 2.8% in the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock worth $398,000 after purchasing an additional 45 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in STERIS by 0.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after acquiring an additional 46 shares in the last quarter. Mather Group LLC. grew its stake in shares of STERIS by 7.6% during the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock worth $172,000 after acquiring an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of STERIS by 16.5% during the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock valued at $82,000 after acquiring an additional 57 shares in the last quarter. Finally, Waterloo Capital L.P. increased its holdings in shares of STERIS by 3.2% during the second quarter. Waterloo Capital L.P. now owns 1,916 shares of the medical equipment provider’s stock valued at $421,000 after acquiring an additional 59 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on STE shares. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. KeyCorp boosted their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

Insiders Place Their Bets

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

STERIS Stock Performance

Shares of STE stock opened at $220.12 on Friday. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. 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 market cap of $21.73 billion, a PE ratio of 50.26 and a beta of 0.85. The business has a 50-day simple moving average of $230.37 and a 200-day simple moving average of $228.26.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. STERIS’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. On average, equities analysts expect that STERIS plc will post 9.15 EPS for the current year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.04%. STERIS’s payout ratio is 52.05%.

STERIS Company 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.