Pitcairn Co. Sells 392 Shares of STERIS plc (NYSE:STE)

Pitcairn Co. lessened its holdings in shares of STERIS plc (NYSE:STE) by 18.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,729 shares of the medical equipment provider’s stock after selling 392 shares during the period. Pitcairn Co.’s holdings in STERIS were worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC increased its position in STERIS by 4.1% in the 3rd quarter. Cerity Partners LLC now owns 71,335 shares of the medical equipment provider’s stock valued at $17,302,000 after acquiring an additional 2,797 shares in the last quarter. Nicolet Advisory Services LLC bought a new stake in shares of STERIS during the third quarter valued at approximately $214,000. Raymond James Trust N.A. increased its holdings in shares of STERIS by 4.6% in the third quarter. Raymond James Trust N.A. now owns 9,944 shares of the medical equipment provider’s stock valued at $2,412,000 after purchasing an additional 438 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in STERIS by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider’s stock worth $133,749,000 after purchasing an additional 6,334 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in STERIS during the 3rd quarter worth $223,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STE has been the subject of several research reports. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, November 8th. 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. KeyCorp lifted their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Piper Sandler upgraded shares of 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 report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This represents a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is currently owned by insiders.

STERIS Stock Performance

Shares of NYSE:STE opened at $216.06 on Wednesday. The firm’s 50 day simple moving average is $226.22 and its 200 day simple moving average is $228.58. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 49.33 and a beta of 0.85. 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 (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, topping 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 analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $2.03 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued 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 1.06%. STERIS’s dividend payout ratio (DPR) is currently 52.05%.

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.