Congress Asset Management Co. Trims Stake in STERIS plc (NYSE:STE)

Congress Asset Management Co. lessened its position in shares of STERIS plc (NYSE:STE - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,827 shares of the medical equipment provider's stock after selling 3,474 shares during the period. Congress Asset Management Co. owned approximately 0.11% of STERIS worth $22,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of STE. Ashton Thomas Securities LLC bought a new stake in shares of STERIS during the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division raised its stake in STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider's stock valued at $39,000 after purchasing an additional 76 shares in the last quarter. Manchester Capital Management LLC lifted its position in STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider's stock valued at $44,000 after purchasing an additional 137 shares during the last quarter. Quarry LP purchased a new position in STERIS in the 3rd quarter worth approximately $67,000. Finally, R Squared Ltd purchased a new position in STERIS in the 4th quarter worth approximately $78,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Trading Down 0.3 %

Shares of NYSE:STE traded down $0.66 on Thursday, reaching $220.73. 249,643 shares of the company traded hands, compared to its average volume of 476,156. The stock has a market capitalization of $21.69 billion, a P/E ratio of 46.86 and a beta of 0.84. The business's 50-day simple moving average is $213.38 and its 200 day simple moving average is $223.66. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) 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%. As a group, equities analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, February 20th. STERIS's payout ratio is 48.41%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on STE shares. JMP Securities restated a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Stephens restated an "overweight" rating and set a $240.00 price target on shares of STERIS in a research report on Thursday, February 6th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a report on Friday, November 8th. Piper Sandler raised their price objective on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $258.75.

Insider Activity at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares in the company, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by company insiders.

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.