Bank of Montreal Can Cuts Stock Position in STERIS plc (NYSE:STE)

Bank of Montreal Can reduced its position in shares of STERIS plc (NYSE:STE - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & 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.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in STERIS in the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division purchased a new stake in STERIS in the 3rd quarter worth $28,000. Versant Capital Management Inc raised its position in STERIS by 2,262.5% during the second 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 period. Brown Brothers Harriman & Co. lifted its holdings in STERIS by 154.7% during the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 116 shares in the last quarter. Finally, Isthmus Partners LLC acquired a new stake in shares of STERIS in the second quarter valued at about $44,000. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Trading Up 0.7 %

STERIS stock traded up $1.59 during trading on Friday, reaching $219.06. 342,972 shares of the company were exchanged, compared to its average volume of 497,351. The stock's 50 day simple moving average is $225.01 and its two-hundred day simple moving average is $228.28. The company has a market capitalization of $21.62 billion, a P/E ratio of 50.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm earned $2.03 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that STERIS plc will post 9.15 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. STERIS's dividend payout ratio (DPR) is 52.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STE. JMP Securities reaffirmed a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a research note on Monday, November 18th. Needham & Company LLC restated a "hold" rating on shares of STERIS in a research report on Friday, November 8th. Stephens reaffirmed an "overweight" rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. KeyCorp increased their price objective on STERIS from $255.00 to $265.00 and gave the company an "overweight" rating in a research note on Tuesday, September 3rd. Finally, StockNews.com cut 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 given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

Insider Transactions at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were 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 owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company's stock.

STERIS Company 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.