abrdn plc Sells 10,583 Shares of STERIS plc (NYSE:STE)

abrdn plc cut its holdings in STERIS plc (NYSE:STE - Free Report) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 253,483 shares of the medical equipment provider's stock after selling 10,583 shares during the quarter. abrdn plc owned about 0.26% of STERIS worth $61,122,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in STERIS by 14.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,140 shares of the medical equipment provider's stock worth $1,156,000 after purchasing an additional 663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of STERIS by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 237,155 shares of the medical equipment provider's stock valued at $53,317,000 after acquiring an additional 1,075 shares during the last quarter. Denali Advisors LLC bought a new position in shares of STERIS in the 1st quarter valued at approximately $67,000. First Trust Direct Indexing L.P. lifted its holdings in STERIS by 5.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,821 shares of the medical equipment provider's stock worth $634,000 after purchasing an additional 146 shares during the last quarter. Finally, SpiderRock Advisors LLC bought a new stake in STERIS during the first quarter worth approximately $242,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Price Performance

Shares of STE traded up $0.55 during mid-day trading on Wednesday, reaching $224.42. The company had a trading volume of 434,610 shares, compared to its average volume of 474,129. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The company has a market capitalization of $22.13 billion, a P/E ratio of 55.55 and a beta of 0.84. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24. The company's 50-day moving average is $234.38 and its 200-day moving average is $226.73.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 EPS. On average, equities analysts anticipate that STERIS plc will post 9.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on STE shares. JMP Securities restated a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. StockNews.com cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Piper Sandler upgraded 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 research note on Thursday, October 24th. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the company an "overweight" rating in a research note on Tuesday, September 3rd. Finally, Stephens reaffirmed an "overweight" rating and issued a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $253.00.

Insider Buying and Selling

In other STERIS news, Director Christopher S. Holland sold 473 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the transaction, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on Tuesday, September 10th. The stock was 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 directly owns 42,930 shares of the company's stock, valued at $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher S. Holland sold 473 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now owns 582 shares of the company's stock, valued at $139,493.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.