Davis R M Inc. Sells 3,756 Shares of STERIS plc (NYSE:STE)

Davis R M Inc. cut its position in shares of STERIS plc (NYSE:STE - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,618 shares of the medical equipment provider's stock after selling 3,756 shares during the quarter. Davis R M Inc.'s holdings in STERIS were worth $9,851,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. West Coast Financial LLC raised its stake in shares of STERIS by 2.8% in the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider's stock valued at $398,000 after acquiring an additional 45 shares during the period. Taylor Frigon Capital Management LLC grew its holdings in STERIS by 0.8% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider's stock valued at $1,356,000 after purchasing an additional 46 shares in the last quarter. Mather Group LLC. lifted its holdings in STERIS by 7.6% in the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider's stock worth $172,000 after buying an additional 54 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of STERIS by 16.5% during the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider's stock valued at $82,000 after acquiring an additional 57 shares in the last quarter. Finally, Waterloo Capital L.P. increased its position in shares of STERIS by 3.2% during the second quarter. Waterloo Capital L.P. now owns 1,916 shares of the medical equipment provider's stock worth $421,000 after acquiring an additional 59 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STE. Needham & Company LLC restated a "hold" rating on shares of STERIS in a research note on Friday, November 8th. Stephens restated an "overweight" rating and set a $260.00 price objective on shares of STERIS in a research note on Thursday, November 7th. Piper Sandler upgraded STERIS from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. StockNews.com lowered STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Finally, KeyCorp lifted their price objective on shares of STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

STERIS Stock Up 1.6 %

NYSE:STE traded up $3.46 during mid-day trading on Monday, reaching $217.80. The stock had a trading volume of 152,426 shares, compared to its average volume of 495,351. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The stock has a market cap of $21.50 billion, a P/E ratio of 48.94 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. The business's 50 day moving average is $227.28 and its 200 day moving average is $228.76.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the prior year, the company earned $2.03 EPS. The business's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.05%. STERIS's dividend payout ratio is presently 52.05%.

Insider Buying and Selling at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company's stock, valued at approximately $10,603,710. This represents a 35.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.