Kavar Capital Partners LLC bought a new stake in Steris PLC (NYSE:STE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,675 shares of the medical equipment provider’s stock, valued at approximately $2,823,000. Steris makes up approximately 1.4% of Kavar Capital Partners LLC’s investment portfolio, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can raised its stake in shares of Steris by 0.5% in the second quarter. Great West Life Assurance Co. Can now owns 137,263 shares of the medical equipment provider’s stock valued at $14,452,000 after purchasing an additional 697 shares in the last quarter. Sigma Investment Counselors Inc. acquired a new position in shares of Steris in the third quarter valued at $223,000. Northern Trust Corp raised its stake in shares of Steris by 0.7% in the second quarter. Northern Trust Corp now owns 643,608 shares of the medical equipment provider’s stock valued at $67,585,000 after purchasing an additional 4,623 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Steris in the second quarter valued at $557,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Steris by 3.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 33,019 shares of the medical equipment provider’s stock valued at $3,467,000 after purchasing an additional 953 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Shares of NYSE:STE opened at $115.75 on Tuesday. Steris PLC has a fifty-two week low of $82.88 and a fifty-two week high of $121.67. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 27.89 and a beta of 1.03. The company has a current ratio of 2.63, a quick ratio of 2.01 and a debt-to-equity ratio of 0.41.

Steris (NYSE:STE) last announced its quarterly earnings results on Tuesday, November 6th. The medical equipment provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. Steris had a return on equity of 12.15% and a net margin of 11.72%. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $659.14 million. During the same period in the prior year, the business posted $0.94 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Steris PLC will post 4.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Wednesday, November 28th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, November 27th. Steris’s dividend payout ratio (DPR) is 32.77%.

A number of analysts have weighed in on the company. Zacks Investment Research reiterated a “buy” rating and issued a $132.00 price target on shares of Steris in a research report on Friday. KeyCorp upped their price target on Steris from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 13th. JMP Securities upped their price target on Steris from $113.00 to $125.00 and gave the company a “market outperform” rating in a research report on Thursday, August 9th. Finally, Stephens reiterated a “buy” rating and issued a $125.00 price target on shares of Steris in a research report on Thursday, August 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Steris currently has an average rating of “Buy” and a consensus target price of $119.33.

In other news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $120.50, for a total transaction of $1,205,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Tokich sold 34,500 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $119.16, for a total value of $4,111,020.00. Following the sale, the insider now owns 64,958 shares in the company, valued at approximately $7,740,395.28. The disclosure for this sale can be found here. Corporate insiders own 2.38% of the company’s stock.

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Steris Profile

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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