Rockefeller Capital Management L.P. Decreases Position in STERIS plc (NYSE:STE)

Rockefeller Capital Management L.P. lessened its position in shares of STERIS plc (NYSE:STE) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,062 shares of the medical equipment provider’s stock after selling 1,796 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.10% of STERIS worth $23,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STE. Public Sector Pension Investment Board raised its position in STERIS by 13.2% during the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock worth $1,039,000 after acquiring an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of STERIS by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,253 shares of the medical equipment provider’s stock worth $10,491,000 after purchasing an additional 1,053 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in STERIS by 10.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 13,724 shares of the medical equipment provider’s stock valued at $3,329,000 after buying an additional 1,276 shares in the last quarter. Swedbank AB acquired a new stake in STERIS during the 3rd quarter valued at $28,251,000. Finally, Cerity Partners LLC increased its position in STERIS by 4.1% during the third quarter. Cerity Partners LLC now owns 71,335 shares of the medical equipment provider’s stock worth $17,302,000 after buying an additional 2,797 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Trading Up 0.7 %

Shares of STE stock opened at $219.06 on Friday. The firm’s 50-day simple moving average is $225.01 and its 200-day simple moving average is $228.28. 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 plc has a 1-year low of $195.47 and a 1-year high of $248.24. The firm has a market cap of $21.62 billion, a P/E ratio of 50.01 and a beta of 0.85.

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 analysts’ consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $2.03 EPS. STERIS’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

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

Insiders Place Their Bets

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 1,682 shares of the 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 completion of the sale, the senior vice president now directly owns 11,372 shares of the company’s stock, 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. 1.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

STE has been the topic of several recent research reports. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. KeyCorp lifted their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, STERIS has an average rating of “Moderate Buy” and an average 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.