State Street Corp Sells 3,011 Shares of STERIS plc (NYSE:STE)

State Street Corp trimmed its holdings in STERIS plc (NYSE:STE - Free Report) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,066,103 shares of the medical equipment provider's stock after selling 3,011 shares during the period. State Street Corp owned 4.12% of STERIS worth $986,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. West Coast Financial LLC raised its holdings in shares of STERIS by 2.8% during the 3rd 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 lifted its holdings in STERIS by 0.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider's stock valued at $1,356,000 after buying an additional 46 shares during the period. Waterloo Capital L.P. grew its holdings in STERIS by 3.2% during the 2nd quarter. Waterloo Capital L.P. now owns 1,916 shares of the medical equipment provider's stock worth $421,000 after acquiring an additional 59 shares during the period. Bailard Inc. grew its stake in STERIS by 6.4% during the second quarter. Bailard Inc. now owns 1,150 shares of the medical equipment provider's stock worth $252,000 after purchasing an additional 69 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of STERIS by 2.7% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,631 shares of the medical equipment provider's stock worth $578,000 after buying an additional 70 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Price Performance

Shares of STE traded down $1.54 during midday trading on Friday, hitting $215.89. 604,774 shares of the company traded hands, compared to its average volume of 631,314. The stock has a 50-day moving average of $222.94 and a 200-day moving average of $227.75. 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 one year low of $197.82 and a one year high of $248.24. The firm has a market cap of $21.31 billion, a P/E ratio of 49.29 and a beta of 0.83.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.02. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 EPS. As a group, sell-side analysts predict 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. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.06%. STERIS's dividend payout ratio is presently 52.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STE. JMP Securities reiterated a "market outperform" rating and set a $265.00 target price on shares of STERIS in a research report on Monday, November 18th. Piper Sandler raised shares of STERIS from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. KeyCorp lifted their target price on STERIS from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Friday, November 8th. Finally, Stephens restated an "overweight" rating and set a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $262.50.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred on 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 directly owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.14% of the company's stock.

STERIS 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.