Dai ichi Life Insurance Company Ltd Sells 5,500 Shares of STERIS plc (NYSE:STE)

Dai ichi Life Insurance Company Ltd decreased its holdings in shares of STERIS plc (NYSE:STE) by 44.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,889 shares of the medical equipment provider’s stock after selling 5,500 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in STERIS were worth $1,671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of STERIS during the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division bought a new stake in STERIS in the third quarter valued at $28,000. Quent Capital LLC increased 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 valued at $30,000 after purchasing an additional 71 shares during the period. Versant Capital Management Inc raised its holdings in STERIS by 2,262.5% in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of STERIS by 154.7% in 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 period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Up 0.7 %

Shares of NYSE:STE opened at $217.47 on Thursday. 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 stock has a fifty day simple moving average of $225.80 and a two-hundred day simple moving average of $228.51. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 49.65 and a beta of 0.85.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm earned $2.03 EPS. STERIS’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that STERIS plc will post 9.15 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.05%. STERIS’s dividend payout ratio is presently 52.05%.

Insider Activity

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STE shares. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. 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. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.