abrdn plc Trims Stake in STERIS plc (NYSE:STE)

abrdn plc cut its stake in STERIS plc (NYSE:STE - Free Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 250,852 shares of the medical equipment provider's stock after selling 2,631 shares during the period. abrdn plc owned 0.25% of STERIS worth $51,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC increased its stake in shares of STERIS by 29.1% during the second quarter. AQR Capital Management LLC now owns 15,094 shares of the medical equipment provider's stock valued at $3,276,000 after purchasing an additional 3,398 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of STERIS by 7.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the medical equipment provider's stock valued at $448,000 after purchasing an additional 144 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of STERIS by 8.2% during the second quarter. Cetera Investment Advisers now owns 13,343 shares of the medical equipment provider's stock valued at $2,930,000 after purchasing an additional 1,013 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of STERIS during the second quarter valued at approximately $1,751,000. Finally, Czech National Bank increased its stake in shares of STERIS by 6.7% during the third quarter. Czech National Bank now owns 20,089 shares of the medical equipment provider's stock valued at $4,872,000 after purchasing an additional 1,260 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Price Performance

STERIS stock traded down $2.31 during mid-day trading on Friday, hitting $223.13. The stock had a trading volume of 682,890 shares, compared to its average volume of 513,142. The firm has a market capitalization of $22.03 billion, a P/E ratio of 47.37 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $212.57 and its 200 day moving average is $224.56. STERIS plc has a one year low of $197.82 and a one year high of $248.24.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. On average, sell-side analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS's dividend payout ratio (DPR) is presently 48.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STE shares. JMP Securities reaffirmed a "market outperform" rating and set a $265.00 target price on shares of STERIS in a research note on Thursday. StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Stephens reaffirmed an "overweight" rating and issued a $240.00 target price on shares of STERIS in a research report on Thursday. Piper Sandler lifted their target price on shares of STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.75.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the company's stock in a transaction dated 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 directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.14% of the company's stock.

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.