The Manufacturers Life Insurance Company Reduces Position in STERIS plc (NYSE:STE)

The Manufacturers Life Insurance Company reduced its position in STERIS plc (NYSE:STE) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,025 shares of the medical equipment provider’s stock after selling 2,707 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in STERIS were worth $14,316,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of STERIS during the 3rd quarter worth approximately $25,000. Central Pacific Bank Trust Division bought a new stake in shares of STERIS during the third quarter worth $28,000. Versant Capital Management Inc boosted its stake 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. Brown Brothers Harriman & Co. grew its holdings in shares of STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 116 shares during the last quarter. Finally, Isthmus Partners LLC purchased a new position in STERIS in the 2nd quarter worth about $44,000. Institutional investors own 94.69% of the company’s stock.

Insider Transactions at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

STERIS Trading Up 0.7 %

Shares of NYSE STE opened at $219.06 on Monday. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The business has a fifty day moving average price of $225.01 and a 200 day moving average price of $228.23. The stock has a market capitalization of $21.62 billion, a P/E ratio of 50.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.