Cary L. Majors Sells 1,682 Shares of STERIS plc (NYSE:STE) Stock

STERIS plc (NYSE:STE) 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 transaction of $365,532.24. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

STERIS Stock Up 0.7 %

Shares of NYSE STE traded up $1.41 during mid-day trading on Wednesday, reaching $217.47. The company had a trading volume of 406,568 shares, compared to its average volume of 498,022. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The firm has a 50 day simple moving average of $226.22 and a two-hundred day simple moving average of $228.58. The stock has a market cap of $21.47 billion, a P/E ratio of 49.33 and a beta of 0.85. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24.

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

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s payout ratio is currently 52.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of STE. Ashton Thomas Securities LLC purchased a new position in STERIS during the 3rd quarter worth $25,000. Central Pacific Bank Trust Division purchased a new position in STERIS during the 3rd quarter worth $28,000. Quent Capital LLC grew its position in STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 71 shares during the last quarter. Versant Capital Management Inc grew its position in STERIS by 2,262.5% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 181 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in STERIS by 154.7% during the 2nd 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. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STE has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. KeyCorp increased their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Monday, November 18th. Finally, Stephens reissued an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, STERIS presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

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.