STERIS (NYSE:STE) Director Mohsen Sohi Sells 4,893 Shares of Company Stock

STERIS plc (NYSE:STE) Director Mohsen Sohi sold 4,893 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $253.22, for a total transaction of $1,239,005.46. Following the transaction, the director owned 24,305 shares in the company, valued at approximately $6,154,512.10. The trade was a 16.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

STERIS Trading Down 1.1%

Shares of STE traded down $2.77 during mid-day trading on Thursday, hitting $253.50. The company had a trading volume of 503,989 shares, compared to its average volume of 773,021. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The business’s 50-day simple moving average is $222.09 and its 200-day simple moving average is $224.66. The stock has a market cap of $24.62 billion, a PE ratio of 30.07 and a beta of 0.86. The company has a quick ratio of 1.44, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.68 by $0.26. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. STERIS had a net margin of 13.41% and a return on equity of 14.80%. STERIS’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.47 earnings per share. Sell-side analysts forecast that STERIS plc will post 11.46 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 17th. STERIS’s payout ratio is 32.74%.

Institutional Investors Weigh In On STERIS

Several hedge funds have recently modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of STERIS by 51.0% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 25,355 shares of the medical equipment provider’s stock valued at $5,325,000 after purchasing an additional 8,560 shares during the period. Corient Private Wealth LP increased its stake in STERIS by 109.7% during the 2nd quarter. Corient Private Wealth LP now owns 20,978 shares of the medical equipment provider’s stock worth $4,417,000 after buying an additional 10,976 shares during the period. Copeland Capital Management LLC increased its stake in STERIS by 13.7% during the 3rd quarter. Copeland Capital Management LLC now owns 177,778 shares of the medical equipment provider’s stock worth $37,335,000 after buying an additional 21,353 shares during the period. Perpetual Ltd lifted its holdings in STERIS by 9.5% in the 3rd quarter. Perpetual Ltd now owns 69,157 shares of the medical equipment provider’s stock worth $14,524,000 after buying an additional 5,974 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in STERIS by 8.8% in the 1st quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider’s stock worth $231,883,000 after buying an additional 85,188 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STE has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $275.00 price objective (up from $270.00) on shares of STERIS in a report on Friday, August 7th. UBS Group dropped their target price on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Weiss Ratings upgraded shares of STERIS from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. KeyCorp lifted their price target on shares of STERIS from $269.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Finally, Wall Street Zen downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $276.33.

STERIS Company Profile

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures. The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.