Skye Global Management LP Decreases Stake in STERIS plc (NYSE:STE)

Skye Global Management LP cut its stake in STERIS plc (NYSE:STE - Free Report) by 58.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,800 shares of the medical equipment provider's stock after selling 23,200 shares during the period. STERIS comprises approximately 0.1% of Skye Global Management LP's portfolio, making the stock its 28th largest position. Skye Global Management LP's holdings in STERIS were worth $4,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. West Coast Financial LLC boosted its holdings in STERIS by 2.8% during the third quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider's stock worth $398,000 after buying an additional 45 shares in the last quarter. Taylor Frigon Capital Management LLC increased its stake in STERIS by 0.8% in 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. raised its holdings in STERIS by 7.6% during the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider's stock worth $172,000 after purchasing an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in STERIS by 16.5% during the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider's stock worth $82,000 after purchasing an additional 57 shares in the last quarter. Finally, Waterloo Capital L.P. grew its holdings in STERIS by 3.2% in the second quarter. Waterloo Capital L.P. now owns 1,916 shares of the medical equipment provider's stock valued at $421,000 after purchasing an additional 59 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the 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 owns 42,930 shares of the company's stock, valued at $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 1,682 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the sale, the senior vice president now directly owns 11,372 shares of the company's stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STE. Stephens reaffirmed an "overweight" rating and set a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. KeyCorp lifted their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Friday, November 8th. JMP Securities reissued a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th. Finally, StockNews.com downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

STERIS Trading Up 0.7 %

Shares of STERIS stock traded up $1.59 during mid-day trading on Friday, hitting $219.06. 342,972 shares of the stock were exchanged, compared to its average volume of 497,351. The company has a 50-day simple moving average of $225.36 and a 200 day simple moving average of $228.43. 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 $21.62 billion, a price-to-earnings ratio of 49.65 and a beta of 0.85. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24.

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, topping 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 previous year, the company earned $2.03 EPS. STERIS's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts forecast that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given 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 1.04%. STERIS's dividend payout ratio (DPR) is presently 52.05%.

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.