Forsta AP Fonden Lowers Position in STERIS plc (NYSE:STE)

Forsta AP Fonden decreased its holdings in shares of STERIS plc (NYSE:STE) by 15.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 32,800 shares of the medical equipment provider’s stock after selling 6,000 shares during the period. Forsta AP Fonden’s holdings in STERIS were worth $7,955,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STE. West Coast Financial LLC boosted its stake in shares of STERIS by 2.8% during the third quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after purchasing an additional 45 shares in the last quarter. Taylor Frigon Capital Management LLC increased its holdings in shares of STERIS by 0.8% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock valued at $1,356,000 after acquiring an additional 46 shares during the period. J.Safra Asset Management Corp raised its position in shares of STERIS by 77.9% in the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 53 shares in the last quarter. Mather Group LLC. raised its position in shares of STERIS by 7.6% in the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock worth $172,000 after acquiring an additional 54 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of STERIS by 16.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock worth $82,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Trading Down 1.4 %

NYSE STE opened at $224.12 on Monday. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The company has a fifty day simple moving average of $234.76 and a two-hundred day simple moving average of $226.34. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The stock has a market cap of $22.15 billion, a P/E ratio of 58.67 and a beta of 0.84.

STERIS (NYSE:STE) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. On average, analysts forecast that STERIS plc will post 9.06 earnings per share for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were given a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio is currently 59.69%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. StockNews.com raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 21st. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $230.00 to $260.00 in a report on Thursday. Finally, KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Buying and Selling

In other STERIS news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other STERIS news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now owns 582 shares in the company, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

STERIS Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.