Versant Capital Management Inc Decreases Position in STERIS plc (NYSE:STE)

Versant Capital Management Inc trimmed its holdings in shares of STERIS plc (NYSE:STE) by 30.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154 shares of the medical equipment provider’s stock after selling 69 shares during the period. Versant Capital Management Inc’s holdings in STERIS were worth $32,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in STERIS by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after buying an additional 778,613 shares during the period. Franklin Resources Inc. boosted its holdings in shares of STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after purchasing an additional 529,308 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of STERIS by 7,418.7% in the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock worth $75,132,000 after purchasing an additional 305,651 shares during the last quarter. American Century Companies Inc. increased its holdings in STERIS by 1,946.3% during the 2nd quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock valued at $59,344,000 after purchasing an additional 257,101 shares during the period. Finally, Swedbank AB bought a new position in STERIS during the 3rd quarter valued at approximately $28,251,000. 94.69% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.14% of the company’s stock.

STERIS Stock Up 1.1 %

NYSE:STE opened at $206.30 on Wednesday. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The company has a market capitalization of $20.36 billion, a PE ratio of 47.10 and a beta of 0.84. The firm’s 50-day moving average price is $214.82 and its 200-day moving average price is $225.42. 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 earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 earnings per share. On average, equities analysts predict that STERIS plc will post 9.1 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th were paid a $0.57 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.11%. STERIS’s dividend payout ratio is presently 52.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STE shares. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $262.50.

STERIS Company 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.