Running Oak Capital LLC Acquires 2,025 Shares of STERIS plc $STE

Running Oak Capital LLC raised its stake in shares of STERIS plc (NYSE:STE) by 4.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 50,360 shares of the medical equipment provider’s stock after purchasing an additional 2,025 shares during the period. STERIS makes up approximately 1.6% of Running Oak Capital LLC’s portfolio, making the stock its 27th biggest holding. Running Oak Capital LLC owned about 0.05% of STERIS worth $10,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in STERIS by 21.9% during the second quarter. Wellington Management Group LLP now owns 3,502,897 shares of the medical equipment provider’s stock worth $737,605,000 after buying an additional 629,532 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of STERIS by 25.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock worth $411,995,000 after acquiring an additional 380,504 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of STERIS by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,113,845 shares of the medical equipment provider’s stock valued at $246,295,000 after purchasing an additional 46,391 shares during the last quarter. Bessemer Group Inc. boosted its holdings in STERIS by 8.8% during the first quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider’s stock worth $231,883,000 after purchasing an additional 85,188 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in STERIS by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 890,562 shares of the medical equipment provider’s stock worth $196,931,000 after purchasing an additional 9,226 shares in the last quarter. 94.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

STE has been the topic of several recent analyst reports. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Piper Sandler reaffirmed an “overweight” rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a report on Monday, August 24th. KeyCorp upped their price objective on STERIS from $269.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday. Finally, UBS Group decreased their target price on STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $276.33.

STERIS Price Performance

Shares of NYSE STE opened at $257.42 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The stock has a market cap of $25.10 billion, a PE ratio of 30.54 and a beta of 0.86. The stock has a fifty day moving average of $221.06 and a 200-day moving average of $224.69.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.26. STERIS had a return on equity of 14.84% and a net margin of 13.41%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the business posted $2.47 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that STERIS plc will post 11.46 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 17th. STERIS’s dividend payout ratio (DPR) is presently 32.74%.

Insider Activity at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total transaction of $956,795.24. Following the completion of the transaction, the director directly owned 24,305 shares in the company, valued at $5,730,632.90. The trade was a 14.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by company insiders.

STERIS Company Profile

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures.

The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.