Dakota Wealth Management Reduces Position in STERIS plc (NYSE:STE)

Dakota Wealth Management decreased its stake in shares of STERIS plc (NYSE:STE) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,146 shares of the medical equipment provider’s stock after selling 55 shares during the quarter. Dakota Wealth Management’s holdings in STERIS were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in shares of STERIS in the 3rd quarter valued at $25,000. Central Pacific Bank Trust Division purchased a new stake in STERIS during the 3rd quarter valued at about $28,000. Quarry LP acquired a new position in shares of STERIS in the third quarter valued at about $67,000. Asset Dedication LLC raised its stake in shares of STERIS by 54.8% in the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after purchasing an additional 103 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of STERIS during the third quarter worth about $150,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.1 %

STE opened at $216.88 on Friday. The company has a fifty day moving average of $211.46 and a two-hundred day moving average of $224.71. The stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 49.52 and a beta of 0.84. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. STERIS’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 EPS. On average, research analysts expect that STERIS plc will post 9.11 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.05%. STERIS’s dividend payout ratio (DPR) is 52.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stephens reissued an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Monday, November 18th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, STERIS presently has an average rating of “Moderate Buy” and an average target price of $262.50.

Insider Activity at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.14% of the stock is owned by corporate insiders.

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.