First Citizens Bank & Trust Co. Takes $476,000 Position in Steris PLC (STE)
First Citizens Bank & Trust Co. acquired a new position in shares of Steris PLC (NYSE:STE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,160 shares of the medical equipment provider’s stock, valued at approximately $476,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of STE. WCM Investment Management CA purchased a new position in Steris during the 2nd quarter worth $107,609,000. Renaissance Technologies LLC purchased a new position in Steris during the 2nd quarter worth $25,843,000. Fiera Capital Corp purchased a new position in Steris during the 2nd quarter worth $25,099,000. BlackRock Inc. boosted its holdings in Steris by 1.8% during the 2nd quarter. BlackRock Inc. now owns 7,608,114 shares of the medical equipment provider’s stock worth $798,929,000 after acquiring an additional 131,142 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Steris by 1,253.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 140,082 shares of the medical equipment provider’s stock worth $14,710,000 after acquiring an additional 129,729 shares during the last quarter. 88.79% of the stock is currently owned by hedge funds and other institutional investors.
STE has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Steris from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. JMP Securities lifted their target price on Steris from $113.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 9th. Stephens reiterated a “buy” rating and set a $125.00 target price on shares of Steris in a research note on Thursday, August 9th. Finally, KeyCorp lifted their target price on Steris from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $100.86.
NYSE STE opened at $106.68 on Friday. The firm has a market cap of $9.30 billion, a PE ratio of 25.71 and a beta of 1.06. Steris PLC has a one year low of $82.88 and a one year high of $117.48. The company has a current ratio of 2.65, a quick ratio of 2.02 and a debt-to-equity ratio of 0.43.
Steris (NYSE:STE) last released its earnings results on Wednesday, August 8th. The medical equipment provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.01. The company had revenue of $638.76 million for the quarter, compared to analysts’ expectations of $638.63 million. Steris had a return on equity of 11.80% and a net margin of 11.42%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that Steris PLC will post 4.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Wednesday, August 29th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Steris’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, August 28th. Steris’s payout ratio is presently 32.77%.
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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