STERIS plc (NYSE:STE) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC reduced its position in shares of STERIS plc (NYSE:STE) by 18.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,673 shares of the medical equipment provider’s stock after selling 594 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in STERIS were worth $588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in STERIS in the 3rd quarter worth about $25,000. VisionPoint Advisory Group LLC acquired a new position in STERIS in the fourth quarter valued at $34,000. Spire Wealth Management grew its holdings in shares of STERIS by 88.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of STERIS in the third quarter worth $49,000. Finally, NBC Securities Inc. purchased a new stake in shares of STERIS during the 3rd quarter valued at about $50,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Performance

NYSE:STE traded down $3.05 during mid-day trading on Thursday, hitting $227.55. The stock had a trading volume of 219,032 shares, compared to its average volume of 487,876. STERIS plc has a 52 week low of $195.47 and a 52 week high of $254.00. The stock has a market capitalization of $22.48 billion, a price-to-earnings ratio of 60.37 and a beta of 0.81. The company has a 50 day simple moving average of $217.04 and a 200-day simple moving average of $217.32. The company has a current ratio of 3.06, a quick ratio of 2.34 and a debt-to-equity ratio of 0.49.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted $2.30 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that STERIS plc will post 9.12 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a yield of 0.91%. STERIS’s dividend payout ratio is currently 54.45%.

Wall Street Analysts Forecast Growth

STE has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of STERIS in a report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price objective on the stock. Piper Sandler restated a “neutral” rating and set a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday, May 9th. Stephens reissued an “overweight” rating and set a $250.00 price target on shares of STERIS in a research report on Friday, February 9th. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.60.

Insider Activity

In other news, VP Renato Tamaro sold 1,154 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $231.64, for a total value of $267,312.56. Following the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $231.64, for a total transaction of $267,312.56. Following the completion of the sale, the vice president now directly owns 6,677 shares in the company, valued at approximately $1,546,660.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,762 shares of company stock worth $1,798,477. 0.95% of the stock is owned by corporate insiders.

STERIS 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.