The Manufacturers Life Insurance Company Cuts Stock Holdings in STERIS plc (NYSE:STE)

The Manufacturers Life Insurance Company lowered its stake in STERIS plc (NYSE:STE - Free Report) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,025 shares of the medical equipment provider's stock after selling 2,707 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of STERIS worth $14,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of STE. Ashton Thomas Securities LLC bought a new stake in shares of STERIS in the third quarter worth $25,000. Central Pacific Bank Trust Division bought a new stake in shares of STERIS in the third quarter worth $28,000. Versant Capital Management Inc lifted its position in shares of STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider's stock worth $41,000 after purchasing an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 116 shares in the last quarter. Finally, Isthmus Partners LLC acquired a new position in STERIS during the second quarter worth $44,000. Institutional investors own 94.69% of the company's stock.

Insider Transactions at STERIS

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 completion of the sale, the chief financial officer now owns 42,930 shares of the company's stock, valued at approximately $10,603,710. This represents a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cary L. Majors sold 1,682 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was 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 approximately $2,471,363.04. This trade represents a 12.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.14% of the company's stock.

STERIS Price Performance

STE traded up $0.49 on Monday, hitting $219.55. 181,096 shares of the stock were exchanged, compared to its average volume of 495,907. STERIS plc has a 12 month low of $195.50 and a 12 month high of $248.24. The business has a 50-day moving average of $225.01 and a two-hundred day moving average of $228.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 49.90 and a beta of 0.85.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. STERIS's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.03 earnings per share. Sell-side analysts forecast that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. STERIS's dividend payout ratio (DPR) is currently 52.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stephens restated an "overweight" rating and set a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. KeyCorp boosted 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. JMP Securities restated a "market outperform" rating and set a $265.00 target price on shares of STERIS in a report on Monday, November 18th. StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 29th. Finally, Piper Sandler upgraded shares of STERIS from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

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.