STERIS plc (NYSE:STE) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in shares of STERIS plc (NYSE:STE) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,870 shares of the medical equipment provider’s stock after selling 576 shares during the quarter. Kentucky Retirement Systems’ holdings in STERIS were worth $1,666,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in STERIS by 8.2% in the 3rd quarter. CIBC Asset Management Inc now owns 14,391 shares of the medical equipment provider’s stock worth $3,490,000 after buying an additional 1,088 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its position in shares of STERIS by 6.8% in the third quarter. Oak Harbor Wealth Partners LLC now owns 3,068 shares of the medical equipment provider’s stock worth $744,000 after acquiring an additional 195 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of STERIS by 335.4% in the third quarter. OneDigital Investment Advisors LLC now owns 21,727 shares of the medical equipment provider’s stock worth $5,270,000 after acquiring an additional 16,737 shares during the last quarter. ING Groep NV purchased a new stake in STERIS in the third quarter valued at approximately $1,065,000. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in STERIS by 5.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,942 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Trading Down 1.4 %

Shares of NYSE:STE opened at $217.04 on Tuesday. 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 market cap of $21.42 billion, a P/E ratio of 49.55 and a beta of 0.85. The company has a 50 day moving average of $230.37 and a 200-day moving average of $228.59. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24.

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

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a $0.57 dividend. The ex-dividend date is 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 is currently 52.05%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on STE shares. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Stephens reaffirmed an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. KeyCorp raised their price objective on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Two 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Insiders Place Their Bets

In related news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.14% of the company’s stock.

About STERIS

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.