Deroy & Devereaux Private Investment Counsel Inc. Boosts Stake in STERIS plc (NYSE:STE)

Deroy & Devereaux Private Investment Counsel Inc. raised its position in STERIS plc (NYSE:STE) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,355 shares of the medical equipment provider’s stock after purchasing an additional 105 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in STERIS were worth $3,567,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of STERIS in the third quarter valued at about $25,000. Central Pacific Bank Trust Division purchased a new position in STERIS in the 3rd quarter worth approximately $28,000. Quarry LP acquired a new stake in STERIS in the third quarter valued at approximately $67,000. Asset Dedication LLC raised its stake in shares of STERIS by 54.8% during the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock valued at $71,000 after purchasing an additional 103 shares during the period. Finally, R Squared Ltd acquired a new position in shares of STERIS during the fourth quarter worth $78,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Trading Down 0.4 %

Shares of STE stock opened at $220.84 on Friday. 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 50-day simple moving average of $212.15 and a 200 day simple moving average of $224.73. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The stock has a market capitalization of $21.80 billion, a P/E ratio of 50.42 and a beta of 0.84.

STERIS (NYSE:STE) last posted 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. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.03 earnings per share. On average, sell-side analysts expect that STERIS plc will post 9.11 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is currently 52.05%.

Analyst Upgrades and Downgrades

STE has been the topic of several analyst reports. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities restated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Monday, November 18th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. Finally, Piper Sandler upgraded 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $262.50.

Insider Activity

In related news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.14% of the company’s stock.

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.