Vaughan Nelson Investment Management L.P. Invests $831,000 in STERIS plc (NYSE:STE)

Vaughan Nelson Investment Management L.P. bought a new position in shares of STERIS plc (NYSE:STE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,425 shares of the medical equipment provider’s stock, valued at approximately $831,000.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of STERIS during the third quarter worth $25,000. Central Pacific Bank Trust Division bought a new stake in shares of STERIS in the third quarter worth $28,000. Quent Capital LLC increased its stake in shares of STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 181 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 116 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STE. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler upgraded shares of 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 note on Thursday, October 24th. KeyCorp lifted their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Stephens restated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Stock Down 0.5 %

STE stock opened at $220.12 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The firm has a fifty day moving average price of $230.37 and a two-hundred day moving average price of $228.42. The firm has a market cap of $21.73 billion, a price-to-earnings ratio of 50.26 and a beta of 0.85.

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 the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts predict that STERIS plc will post 9.15 EPS for the current year.

STERIS Announces Dividend

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

About STERIS

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.