Retirement Systems of Alabama Sells 240 Shares of STERIS plc (NYSE:STE)

Retirement Systems of Alabama cut its position in STERIS plc (NYSE:STE) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,371 shares of the medical equipment provider’s stock after selling 240 shares during the quarter. Retirement Systems of Alabama’s holdings in STERIS were worth $4,393,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STE. Wedmont Private Capital bought a new stake in STERIS in the 3rd quarter valued at $214,000. Exchange Traded Concepts LLC bought a new stake in STERIS in the 3rd quarter valued at $150,000. Harrell Investment Partners LLC boosted its stake in STERIS by 7.7% in the 3rd quarter. Harrell Investment Partners LLC now owns 8,065 shares of the medical equipment provider’s stock valued at $1,956,000 after purchasing an additional 579 shares during the period. Creative Planning boosted its stake in STERIS by 1.4% in the 3rd quarter. Creative Planning now owns 9,019 shares of the medical equipment provider’s stock valued at $2,187,000 after purchasing an additional 126 shares during the period. Finally, Swedbank AB bought a new stake in STERIS in the 3rd quarter valued at $28,251,000. 94.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction 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. This represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.14% of the company’s stock.

STERIS Trading Up 0.4 %

Shares of STE stock opened at $224.16 on Tuesday. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 47.59 and a beta of 0.84. The stock has a 50-day moving average of $212.57 and a 200-day moving average of $224.46. The company has a current ratio of 2.13, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. On average, equities research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. STERIS’s payout ratio is 48.41%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research report on Thursday, February 6th. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of STERIS in a research report on Thursday, February 6th. Piper Sandler upped their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

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.