STERIS plc (NYSE:STE) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in shares of STERIS plc (NYSE:STE - Free Report) by 47.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,593 shares of the medical equipment provider's stock after selling 69,470 shares during the quarter. Lord Abbett & CO. LLC owned about 0.08% of STERIS worth $18,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock valued at $191,370,000 after purchasing an additional 529,308 shares during the last quarter. Tidal Investments LLC raised its stake in STERIS by 21.0% in the third quarter. Tidal Investments LLC now owns 12,650 shares of the medical equipment provider's stock valued at $3,068,000 after buying an additional 2,193 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in STERIS in the third quarter worth about $9,949,000. World Investment Advisors LLC purchased a new stake in shares of STERIS during the third quarter worth about $5,171,000. Finally, SkyView Investment Advisors LLC grew its stake in shares of STERIS by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider's stock worth $765,000 after acquiring an additional 51 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 1,682 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company's stock, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STE. StockNews.com cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 29th. Piper Sandler upgraded shares of 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. Stephens reissued an "overweight" rating and issued a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. KeyCorp lifted their price target on STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of STERIS in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, STERIS currently has an average rating of "Moderate Buy" and a consensus target price of $262.50.

STERIS Stock Performance

NYSE:STE traded down $3.19 during mid-day trading on Monday, hitting $211.03. The company's stock had a trading volume of 661,475 shares, compared to its average volume of 501,342. The business's fifty day moving average is $220.80 and its two-hundred day moving average is $227.30. The stock has a market cap of $20.83 billion, a price-to-earnings ratio of 48.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.02. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 earnings per share. Analysts anticipate that STERIS plc will post 9.1 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Tuesday, November 19th. STERIS's dividend payout ratio is currently 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.