Insider Selling: STERIS plc (NYSE:STE) SVP Sells 1,682 Shares of 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 completion of the sale, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website.

STERIS Stock Performance

Shares of STERIS stock opened at $217.47 on Thursday. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The stock has a market cap of $21.47 billion, a PE ratio of 49.65 and a beta of 0.85. The business has a fifty day simple moving average of $225.80 and a 200-day simple moving average of $228.51.

STERIS (NYSE:STE) last released its 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 company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 EPS. On average, sell-side analysts anticipate that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently announced 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 of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. STERIS’s payout ratio is 52.05%.

Analyst Ratings Changes

Several brokerages have recently issued reports on STE. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities restated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research report on Monday, November 18th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. KeyCorp lifted their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $253.00.

Hedge Funds Weigh In On STERIS

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in STERIS during the third quarter valued at $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS during the 3rd quarter valued at about $28,000. Quent Capital LLC grew its stake in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 71 shares in the last quarter. Versant Capital Management Inc increased its holdings in STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 181 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in STERIS by 154.7% during the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 116 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

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.