Carderock Capital Management Inc. Lowers Stock Holdings in STERIS plc (NYSE:STE)

Carderock Capital Management Inc. reduced its position in STERIS plc (NYSE:STE - Free Report) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,922 shares of the medical equipment provider's stock after selling 2,666 shares during the quarter. Carderock Capital Management Inc.'s holdings in STERIS were worth $5,534,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of STERIS in the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division purchased a new stake in STERIS in the third quarter valued at approximately $28,000. Brown Brothers Harriman & Co. lifted its position 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 during the last quarter. Quarry LP purchased a new position in STERIS in the 3rd quarter worth approximately $67,000. Finally, Asset Dedication LLC increased its holdings in shares of STERIS by 54.8% in the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider's stock worth $71,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Insider Activity

In related news, SVP Cary L. Majors sold 1,682 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on STE. Piper Sandler raised shares of STERIS from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities reiterated a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. StockNews.com downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Finally, Stephens reaffirmed an "overweight" rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $262.50.

STERIS Trading Down 0.3 %

STE stock traded down $0.66 during trading on Friday, hitting $209.50. 693,875 shares of the company traded hands, compared to its average volume of 416,470. The company has a 50-day moving average of $212.04 and a 200-day moving average of $224.77. 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 1 year low of $197.82 and a 1 year high of $248.24. The firm has a market capitalization of $20.68 billion, a PE ratio of 47.83 and a beta of 0.84.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.78% and a net margin of 8.02%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The business's quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, November 19th. STERIS's payout ratio is 52.05%.

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.