ArrowMark Colorado Holdings LLC Has $160.64 Million Stock Position in STERIS plc (NYSE:STE)

ArrowMark Colorado Holdings LLC lowered its stake in shares of STERIS plc (NYSE:STE) by 13.4% during the third quarter, Holdings Channel.com reports. The firm owned 662,333 shares of the medical equipment provider’s stock after selling 102,560 shares during the quarter. STERIS makes up about 2.1% of ArrowMark Colorado Holdings LLC’s investment portfolio, making the stock its 6th biggest position. ArrowMark Colorado Holdings LLC’s holdings in STERIS were worth $160,642,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STE. Bleakley Financial Group LLC increased its position in shares of STERIS by 8.7% during the third quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after purchasing an additional 134 shares in the last quarter. Assetmark Inc. raised its stake in STERIS by 24.6% in the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock valued at $3,252,000 after buying an additional 2,647 shares during the last quarter. BDF Gestion acquired a new stake in STERIS in the second quarter worth about $2,644,000. KBC Group NV boosted its holdings in STERIS by 52.0% in the third quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock worth $2,928,000 after acquiring an additional 4,132 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of STERIS by 11.0% during the second quarter. Foster Victor Wealth Advisors LLC now owns 60,302 shares of the medical equipment provider’s stock worth $13,727,000 after acquiring an additional 5,999 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction 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 sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

STERIS Price Performance

NYSE:STE opened at $219.06 on Monday. The firm’s fifty day moving average is $225.01 and its two-hundred day moving average is $228.23. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 50.01 and a beta of 0.85. STERIS plc has a one year low of $195.47 and a one year high of $248.24. 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 posted its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $2.03 earnings per share. STERIS’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts expect that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Stephens reiterated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, STERIS presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

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.