Geneva Capital Management LLC Decreases Position in STERIS plc (NYSE:STE)

Geneva Capital Management LLC lessened its holdings in STERIS plc (NYSE:STE - Free Report) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,817 shares of the medical equipment provider's stock after selling 3,201 shares during the quarter. Geneva Capital Management LLC owned approximately 0.12% of STERIS worth $29,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of STERIS in the 3rd quarter worth about $25,000. J.Safra Asset Management Corp lifted its holdings in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 53 shares during the period. Central Pacific Bank Trust Division acquired a new stake in STERIS in the 3rd quarter valued at about $28,000. Quent Capital LLC lifted its holdings in STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 71 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in STERIS during the first quarter valued at about $36,000. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

STE stock traded down $1.44 during mid-day trading on Wednesday, hitting $221.29. 228,864 shares of the company were exchanged, compared to its average volume of 490,882. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $21.84 billion, a PE ratio of 50.77 and a beta of 0.85. The business has a 50 day simple moving average of $231.90 and a 200-day simple moving average of $228.11. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. On average, equities analysts forecast that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. STERIS's dividend payout ratio (DPR) is currently 52.05%.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STE. StockNews.com downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 29th. Piper Sandler raised STERIS from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Friday, November 8th. KeyCorp boosted their price target on STERIS from $255.00 to $265.00 and gave the company an "overweight" rating in a research note on Tuesday, September 3rd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $253.00.

About STERIS

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.