US Bancorp DE Sells 5,758 Shares of STERIS plc (NYSE:STE)

US Bancorp DE cut its stake in STERIS plc (NYSE:STE - Free Report) by 17.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,524 shares of the medical equipment provider's stock after selling 5,758 shares during the period. US Bancorp DE's holdings in STERIS were worth $6,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in STERIS by 13.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider's stock valued at $1,414,453,000 after buying an additional 778,613 shares during the period. Price T Rowe Associates Inc. MD boosted its position in STERIS by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider's stock valued at $390,880,000 after buying an additional 120,616 shares during the period. Sustainable Growth Advisers LP boosted its position in STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider's stock valued at $333,988,000 after buying an additional 282,387 shares during the period. Impax Asset Management Group plc boosted its position in STERIS by 29.7% during the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider's stock valued at $251,663,000 after buying an additional 263,383 shares during the period. Finally, Principal Financial Group Inc. boosted its position in STERIS by 0.9% during the second quarter. Principal Financial Group Inc. now owns 1,017,888 shares of the medical equipment provider's stock valued at $223,467,000 after buying an additional 8,601 shares during the period. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Michael J. Tokich sold 23,332 shares of the 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 completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company's stock, valued at $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other STERIS news, Director Christopher S. Holland sold 473 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now owns 582 shares of the company's stock, valued at approximately $139,493.76. This trade represents 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 accessible through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company's stock, valued at $10,603,710. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on STE shares. Piper Sandler upgraded shares of STERIS from a "neutral" rating to an "overweight" rating and upped their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Stephens restated an "overweight" rating and set a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. JMP Securities restated a "market outperform" rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a report on Thursday, August 8th. Finally, KeyCorp increased their target price 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

STERIS Trading Up 0.3 %

Shares of STERIS stock traded up $0.64 during trading on Monday, reaching $225.82. 918,612 shares of the stock were exchanged, compared to its average volume of 476,012. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. The stock's fifty day moving average is $233.72 and its 200 day moving average is $227.23. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of 55.88 and a beta of 0.85. 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 released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. STERIS's revenue was down .4% on a year-over-year basis. As a group, equities research analysts expect that STERIS plc will post 9.02 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Tuesday, November 19th. STERIS's payout ratio is currently 56.58%.

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.