Bank of Montreal Can Sells 7,294 Shares of STERIS plc (NYSE:STE)

Bank of Montreal Can lessened its holdings in shares of STERIS plc (NYSE:STE) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,158 shares of the medical equipment provider’s stock after selling 7,294 shares during the quarter. Bank of Montreal Can owned 0.10% of STERIS worth $22,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of STERIS during the third quarter valued at about $25,000. Central Pacific Bank Trust Division acquired a new position in STERIS during the 3rd quarter valued at about $28,000. Versant Capital Management Inc boosted its stake 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 valued at $41,000 after purchasing an additional 181 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in STERIS by 154.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 116 shares in the last quarter. Finally, Isthmus Partners LLC purchased a new stake in shares of STERIS in the second quarter worth approximately $44,000. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE:STE opened at $219.28 on Friday. The company has a market capitalization of $21.65 billion, a P/E ratio of 50.06 and a beta of 0.85. The company’s 50-day moving average is $225.01 and its 200 day moving average is $228.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24.

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 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 firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $2.03 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The company 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. This represents a $2.28 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio is currently 52.05%.

Insider Buying and Selling at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the business’s 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 sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on STE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Monday, November 18th. Stephens reiterated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. KeyCorp boosted their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

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.