Kimelman & Baird LLC Sells 708 Shares of STERIS plc (NYSE:STE)

Kimelman & Baird LLC trimmed its stake in shares of STERIS plc (NYSE:STE) by 2.4% during the third quarter, HoldingsChannel.com reports. The firm owned 28,699 shares of the medical equipment provider’s stock after selling 708 shares during the quarter. Kimelman & Baird LLC’s holdings in STERIS were worth $6,961,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in STERIS in the 3rd quarter worth approximately $25,000. Central Pacific Bank Trust Division purchased a new stake in shares of STERIS in the third quarter worth $28,000. Brown Brothers Harriman & Co. boosted its stake in STERIS by 154.7% during the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 116 shares during the period. Isthmus Partners LLC bought a new stake in STERIS during the second quarter valued at $44,000. Finally, American National Bank purchased a new position in STERIS during the second quarter worth about $53,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.7 %

Shares of STE opened at $215.89 on Friday. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. 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 stock has a 50 day simple moving average of $222.94 and a two-hundred day simple moving average of $227.75. 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) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. The company 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%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.03 EPS. On average, analysts forecast that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business 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 is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.06%. STERIS’s dividend payout ratio is currently 52.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on STE. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. 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 boosted their price target for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. KeyCorp raised their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.50.

Insider Activity

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction 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 $10,603,710. This represents a 35.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of 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 position. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.

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.