Townsquare Capital LLC Cuts Stock Position in STERIS plc (NYSE:STE)

Townsquare Capital LLC decreased its position in STERIS plc (NYSE:STE - Free Report) by 33.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,144 shares of the medical equipment provider's stock after selling 8,990 shares during the quarter. Townsquare Capital LLC's holdings in STERIS were worth $4,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of STERIS in the 3rd quarter worth about $25,000. Central Pacific Bank Trust Division bought a new position in STERIS during the 3rd quarter valued at approximately $28,000. Quent Capital LLC increased its holdings in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. Versant Capital Management Inc raised its holdings in 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 buying an additional 181 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake 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 buying an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Stock Performance

NYSE:STE traded up $1.81 on Friday, hitting $219.28. The stock had a trading volume of 342,972 shares, compared to its average volume of 497,351. The business's 50-day simple moving average is $225.36 and its two-hundred day simple moving average is $228.43. The stock has a market cap of $21.65 billion, a price-to-earnings ratio of 49.65 and a beta of 0.85. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $2.03 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of the business'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 transaction, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated Tuesday, September 10th. The stock was 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 owns 42,930 shares of the company's stock, valued at $10,603,710. This represents a 35.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.14% of the company's stock.

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.