Panagora Asset Management Inc. Grows Stock Holdings in STERIS plc (NYSE:STE)

Posted by on Jun 10th, 2023

Panagora Asset Management Inc. grew its holdings in shares of STERIS plc (NYSE:STE – Get Rating) by 37.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,724 shares of the medical equipment provider’s stock after purchasing an additional 6,771 shares during the period. Panagora Asset Management Inc.’s holdings in STERIS were worth $4,566,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in STE. 1832 Asset Management L.P. bought a new stake in shares of STERIS during the first quarter valued at approximately $25,000. Delta Asset Management LLC TN bought a new stake in shares of STERIS during the fourth quarter valued at approximately $27,000. Fiduciary Alliance LLC bought a new stake in shares of STERIS during the fourth quarter valued at approximately $28,000. Asset Dedication LLC bought a new stake in shares of STERIS during the fourth quarter valued at approximately $30,000. Finally, FourThought Financial LLC grew its holdings in STERIS by 82.0% during the 3rd quarter. FourThought Financial LLC now owns 222 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 100 shares in the last quarter. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STERIS stock opened at $206.98 on Friday. STERIS plc has a one year low of $159.21 and a one year high of $227.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.53 and a current ratio of 2.33. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 193.44, a price-to-earnings-growth ratio of 2.17 and a beta of 0.84. The stock has a 50 day moving average price of $196.07 and a 200-day moving average price of $192.56.

STERIS (NYSE:STE – Get Rating) last issued its quarterly earnings results on Wednesday, May 10th. The medical equipment provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.15. STERIS had a return on equity of 13.50% and a net margin of 2.16%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company earned $2.04 EPS. Equities analysts expect that STERIS plc will post 8.63 EPS for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 14th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Tuesday, June 13th. STERIS’s dividend payout ratio is currently 175.70%.

Analyst Upgrades and Downgrades

STE has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of STERIS from $197.00 to $200.00 in a report on Friday, May 12th. KeyCorp increased their price target on STERIS from $210.00 to $235.00 in a research note on Friday, May 12th. TheStreet raised STERIS from a “c” rating to a “b-” rating in a research note on Wednesday, May 10th. Morgan Stanley initiated coverage on STERIS in a research report on Tuesday, May 30th. They set an “equal weight” rating and a $206.00 target price for the company. Finally, JMP Securities decreased their target price on shares of STERIS from $250.00 to $240.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.00.

Insider Buying and Selling

In related news, Director Mohsen Sohi sold 2,069 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $212.28, for a total transaction of $439,207.32. Following the completion of the sale, the director now directly owns 22,361 shares of the company’s stock, valued at approximately $4,746,793.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by corporate insiders.

STERIS Company Profile

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STERIS Plc engages in the provision of healthcare and life science product and service solutions. It operates through the following segments: Healthcare, Life Sciences, Applied Sterilization Technologies, and Dental. The Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites.

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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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