Parallel Advisors LLC Raises Holdings in Steris PLC (NYSE:STE)

Parallel Advisors LLC grew its position in shares of Steris PLC (NYSE:STE) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,664 shares of the medical equipment provider’s stock after purchasing an additional 117 shares during the quarter. Parallel Advisors LLC’s holdings in Steris were worth $240,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Steris by 6.1% during the second quarter. BlackRock Inc. now owns 9,052,709 shares of the medical equipment provider’s stock worth $1,347,769,000 after purchasing an additional 522,254 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Steris by 0.8% during the second quarter. Vanguard Group Inc. now owns 7,883,742 shares of the medical equipment provider’s stock worth $1,173,730,000 after purchasing an additional 66,013 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Steris by 3.5% during the third quarter. WCM Investment Management LLC now owns 2,704,006 shares of the medical equipment provider’s stock worth $390,701,000 after purchasing an additional 91,279 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Steris by 103.3% during the second quarter. Invesco Ltd. now owns 1,141,634 shares of the medical equipment provider’s stock worth $169,967,000 after buying an additional 579,965 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Steris by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 1,070,879 shares of the medical equipment provider’s stock worth $159,433,000 after buying an additional 58,680 shares during the period. 88.11% of the stock is currently owned by institutional investors.

Shares of STE traded up $0.65 during mid-day trading on Friday, hitting $145.84. 278,973 shares of the company’s stock were exchanged, compared to its average volume of 477,181. Steris PLC has a fifty-two week low of $99.14 and a fifty-two week high of $156.66. The firm has a market capitalization of $12.38 billion, a P/E ratio of 29.82 and a beta of 0.88. The business’s 50 day moving average is $142.12 and its two-hundred day moving average is $143.11. The company has a current ratio of 2.41, a quick ratio of 1.87 and a debt-to-equity ratio of 0.37.

Steris (NYSE:STE) last announced its earnings results on Monday, November 4th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.06. Steris had a net margin of 11.59% and a return on equity of 14.28%. The business had revenue of $736.84 million during the quarter, compared to the consensus estimate of $717.79 million. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that Steris PLC will post 5.61 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.48 annualized dividend and a dividend yield of 1.01%. Steris’s dividend payout ratio (DPR) is 30.27%.

Separately, ValuEngine downgraded shares of Steris from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Steris presently has an average rating of “Buy” and an average price target of $148.20.

In related news, VP John Adam Zangerle sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $142.15, for a total value of $142,150.00. Also, VP Renato Tamaro sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $153.15, for a total transaction of $316,254.75. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by corporate insiders.

About Steris

STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.

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Institutional Ownership by Quarter for Steris (NYSE:STE)

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