Laurion Capital Management LP Has $1.04 Million Stake in Steris Plc (STE)
Laurion Capital Management LP reduced its holdings in shares of Steris Plc (NYSE:STE) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,800 shares of the medical equipment provider’s stock after selling 2,200 shares during the quarter. Laurion Capital Management LP’s holdings in Steris Plc were worth $1,043,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Bragg Financial Advisors Inc acquired a new position in shares of Steris Plc during the 1st quarter worth about $1,159,000. State of Wisconsin Investment Board acquired a new position in shares of Steris Plc during the 2nd quarter worth about $1,360,000. Morgan Stanley boosted its position in shares of Steris Plc by 28.3% during the 1st quarter. Morgan Stanley now owns 266,537 shares of the medical equipment provider’s stock worth $18,514,000 after acquiring an additional 58,776 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Steris Plc by 31.0% during the 1st quarter. Legal & General Group Plc now owns 56,190 shares of the medical equipment provider’s stock worth $3,902,000 after acquiring an additional 13,294 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in shares of Steris Plc by 36.1% during the 2nd quarter. Capstone Asset Management Co. now owns 8,560 shares of the medical equipment provider’s stock worth $698,000 after acquiring an additional 2,270 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.
In related news, Director Michael B. Wood sold 4,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $81.50, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 26,131 shares of the company’s stock, valued at $2,129,676.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $85.69, for a total value of $856,900.00. Following the completion of the sale, the chief executive officer now directly owns 83,270 shares of the company’s stock, valued at $7,135,406.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,086 shares of company stock worth $15,297,621. Corporate insiders own 2.55% of the company’s stock.
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Several research analysts have recently issued reports on the company. Wellington Shields cut Steris Plc from a “gradually accumulate” rating to a “hold” rating in a research report on Monday, June 5th. BidaskClub cut Steris Plc from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. upped their price objective on Steris Plc from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research raised Steris Plc from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $86.75.
Shares of Steris Plc (NYSE STE) opened at 87.04 on Friday. The firm has a market capitalization of $7.42 billion, a PE ratio of 62.26 and a beta of 1.29. The company has a 50 day moving average price of $85.66 and a 200-day moving average price of $78.30. Steris Plc has a 12 month low of $63.80 and a 12 month high of $88.11.
Steris Plc (NYSE:STE) last announced its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Steris Plc had a return on equity of 11.39% and a net margin of 4.63%. The business had revenue of $608.00 million for the quarter, compared to analyst estimates of $597.66 million. During the same period in the previous year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. Equities research analysts expect that Steris Plc will post $4.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Tuesday, August 29th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Steris Plc’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, August 25th. Steris Plc’s payout ratio is presently 88.57%.
About Steris Plc
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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