Cinctive Capital Management LP Purchases Shares of 26,575 STERIS plc (NYSE:STE)

Cinctive Capital Management LP purchased a new position in STERIS plc (NYSE:STE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,575 shares of the medical equipment provider’s stock, valued at approximately $6,446,000.

A number of other hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in shares of STERIS by 11.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,972 shares of the medical equipment provider’s stock worth $433,000 after purchasing an additional 209 shares during the last quarter. Atria Investments Inc lifted its holdings in STERIS by 5.6% in the 1st quarter. Atria Investments Inc now owns 9,322 shares of the medical equipment provider’s stock worth $2,096,000 after buying an additional 493 shares during the period. Cetera Investment Advisers grew its position in shares of STERIS by 215.1% in the 1st quarter. Cetera Investment Advisers now owns 12,330 shares of the medical equipment provider’s stock worth $2,772,000 after buying an additional 8,417 shares during the last quarter. Cetera Advisors LLC increased its stake in shares of STERIS by 53.7% during the first quarter. Cetera Advisors LLC now owns 4,164 shares of the medical equipment provider’s stock valued at $936,000 after buying an additional 1,455 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of STERIS by 2.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,704 shares of the medical equipment provider’s stock valued at $7,341,000 after acquiring an additional 629 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 directly owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STE shares. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. KeyCorp lifted their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, STERIS has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Price Performance

Shares of NYSE STE opened at $219.06 on Monday. The company has a 50 day simple moving average of $225.01 and a two-hundred day simple moving average of $228.23. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The company has a market capitalization of $21.62 billion, a price-to-earnings ratio of 50.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41.

STERIS (NYSE:STE) last announced its quarterly earnings data 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. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $2.03 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts expect that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Dividend Announcement

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 paid a dividend of $0.57 per share. 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 dividend payout ratio is currently 52.05%.

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.