STERIS plc (NYSE:STE) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lowered its stake in shares of STERIS plc (NYSE:STE) by 33.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,144 shares of the medical equipment provider’s stock after selling 8,990 shares during the quarter. Townsquare Capital LLC’s holdings in STERIS were worth $4,401,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of STE. Ashton Thomas Securities LLC acquired a new position in STERIS during the third quarter worth approximately $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS during the 3rd quarter worth $28,000. Quent Capital LLC raised its position 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 worth $30,000 after buying an additional 71 shares during the period. Versant Capital Management Inc raised its position in shares of STERIS by 2,262.5% in the 2nd 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 period. Finally, Brown Brothers Harriman & Co. boosted its holdings in STERIS by 154.7% in 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 during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

STERIS Trading Up 0.7 %

STE opened at $217.47 on Friday. The firm’s 50 day moving average is $225.36 and its 200-day moving average is $228.43. STERIS plc has a 52-week low of $195.47 and a 52-week 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 firm has a market capitalization of $21.47 billion, a P/E ratio of 49.65 and a beta of 0.85.

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

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Tuesday, November 19th. STERIS’s dividend payout ratio is currently 52.05%.

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated 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 $10,603,710. The trade was a 35.21 % decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is owned by 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.