Main Street Financial Solutions LLC Cuts Stake in STERIS plc (NYSE:STE)

Main Street Financial Solutions LLC reduced its stake in STERIS plc (NYSE:STE) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,375 shares of the medical equipment provider’s stock after selling 253 shares during the period. Main Street Financial Solutions LLC’s holdings in STERIS were worth $818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. West Coast Financial LLC lifted its position 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 purchasing an additional 45 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in STERIS by 0.8% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after buying an additional 46 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 53 shares in the last quarter. Mather Group LLC. increased its stake in shares of 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 acquiring an additional 54 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings 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. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STE shares. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. KeyCorp lifted their price objective on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Stephens reissued an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. Finally, Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Price Performance

STE opened at $222.23 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The stock has a market capitalization of $21.94 billion, a PE ratio of 50.74 and a beta of 0.85. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24. The company’s 50 day simple moving average is $231.12 and its 200 day simple moving average is $228.20.

STERIS (NYSE:STE) last released its quarterly earnings data 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 business had revenue of $1.33 billion during 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 business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. As a group, sell-side analysts expect that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

The company also recently disclosed 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 of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. STERIS’s dividend payout ratio (DPR) is 52.05%.

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.