Meeder Asset Management Inc. Buys 3,044 Shares of Steris PLC (STE)
Meeder Asset Management Inc. boosted its stake in shares of Steris PLC (NYSE:STE) by 129.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,387 shares of the medical equipment provider’s stock after buying an additional 3,044 shares during the quarter. Meeder Asset Management Inc.’s holdings in Steris were worth $616,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in STE. Steward Partners Investment Advisory LLC lifted its holdings in Steris by 118.0% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 909 shares of the medical equipment provider’s stock worth $104,000 after buying an additional 492 shares during the period. First Hawaiian Bank acquired a new position in Steris during the 3rd quarter worth about $106,000. Point72 Hong Kong Ltd acquired a new position in Steris during the 2nd quarter worth about $116,000. Fort L.P. acquired a new position in Steris during the 2nd quarter worth about $121,000. Finally, Parallel Advisors LLC lifted its holdings in Steris by 480.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,364 shares of the medical equipment provider’s stock worth $156,000 after buying an additional 1,129 shares during the period. 89.52% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on STE. KeyCorp lifted their target price on Steris from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 9th. Stephens reaffirmed a “buy” rating and set a $125.00 target price on shares of Steris in a report on Thursday, August 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 report on Thursday, August 9th. Finally, Zacks Investment Research raised Steris from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $115.00.
Steris (NYSE:STE) last announced its quarterly earnings data on Tuesday, November 6th. The medical equipment provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $659.14 million. Steris had a return on equity of 12.15% and a net margin of 11.72%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. On average, equities research analysts forecast that Steris PLC will post 4.71 EPS for the current year.
In other news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $120.50, for a total value of $1,205,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Tokich sold 34,500 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $119.16, for a total value of $4,111,020.00. Following the completion of the transaction, the insider now directly owns 64,958 shares in the company, valued at $7,740,395.28. The disclosure for this sale can be found here. Insiders sold a total of 45,800 shares of company stock worth $5,464,727 over the last three months. 2.38% of the stock is owned by company insiders.
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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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