Ninety One North America Inc. Cuts Stake in STERIS plc (NYSE:STE)

Ninety One North America Inc. trimmed its stake in STERIS plc (NYSE:STE) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,379 shares of the medical equipment provider’s stock after selling 311 shares during the quarter. Ninety One North America Inc.’s holdings in STERIS were worth $489,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of STE. Franklin Resources Inc. increased its holdings in shares of STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after buying an additional 529,308 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock worth $75,132,000 after purchasing an additional 305,651 shares during the period. Boston Trust Walden Corp lifted its stake in shares of STERIS by 400.4% in the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after purchasing an additional 179,829 shares in the last quarter. Swedbank AB purchased a new stake in shares of STERIS during the 3rd quarter worth about $28,251,000. Finally, Benjamin Edwards Inc. increased its position in STERIS by 2,123.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock worth $27,574,000 after purchasing an additional 108,559 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Trading Up 0.5 %

Shares of STE opened at $219.53 on Wednesday. STERIS plc has a one year low of $197.82 and a one year high of $248.24. The stock has a 50-day moving average price of $212.26 and a 200 day moving average price of $224.61. 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 company has a market capitalization of $21.67 billion, a P/E ratio of 50.12 and a beta of 0.84.

STERIS (NYSE:STE) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate 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 return on equity of 13.78% and a net margin of 8.02%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 EPS. Sell-side analysts forecast that STERIS plc will post 9.11 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. STERIS’s payout ratio is 52.05%.

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on STE shares. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th. Piper Sandler upped their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Stephens reiterated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Finally, StockNews.com lowered 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $263.75.

About STERIS

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.