Apollon Wealth Management LLC Sells 149 Shares of STERIS plc (NYSE:STE)

Apollon Wealth Management LLC cut its stake in STERIS plc (NYSE:STE) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,783 shares of the medical equipment provider’s stock after selling 149 shares during the period. Apollon Wealth Management LLC’s holdings in STERIS were worth $675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of STERIS in the third quarter valued at about $25,000. Central Pacific Bank Trust Division acquired a new position in STERIS in the 3rd quarter valued at approximately $28,000. Quent Capital LLC lifted its position in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares during the period. Headlands Technologies LLC acquired a new stake in shares of STERIS during the 1st quarter worth approximately $36,000. Finally, Versant Capital Management Inc increased its position in shares of STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 181 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STE has been the subject of several research reports. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. KeyCorp lifted their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Insider Buying and Selling

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This represents a 35.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is owned by corporate insiders.

STERIS Price Performance

NYSE:STE opened at $220.12 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a market cap of $21.73 billion, a PE ratio of 50.26 and a beta of 0.85. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24. The company’s 50-day moving average price is $230.77 and its two-hundred day moving average price is $228.15.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $2.03 EPS. STERIS’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. STERIS’s dividend payout ratio is 52.05%.

About STERIS

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.