Raymond James Trust N.A. Has $2.41 Million Stock Position in STERIS plc (NYSE:STE)

Raymond James Trust N.A. increased its holdings in STERIS plc (NYSE:STE) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,944 shares of the medical equipment provider’s stock after acquiring an additional 438 shares during the period. Raymond James Trust N.A.’s holdings in STERIS were worth $2,412,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in STE. Ashton Thomas Securities LLC bought a new position in shares of STERIS in the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division bought a new position in STERIS during the 3rd quarter valued at $28,000. Quent Capital LLC boosted its holdings in STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares during the last quarter. Versant Capital Management Inc boosted its holdings in STERIS by 2,262.5% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 181 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake 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 acquiring an additional 116 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. Finally, Stephens reiterated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, STERIS has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Activity at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.14% of the stock is currently owned by corporate insiders.

STERIS Price Performance

STERIS stock opened at $214.34 on Friday. The business’s 50 day simple moving average is $227.28 and its 200 day simple moving average is $228.52. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24. The company has a market cap of $21.16 billion, a price-to-earnings ratio of 48.94 and a beta of 0.85. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is currently 52.05%.

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.