Teachers Retirement System of The State of Kentucky Cuts Stake in STERIS plc (NYSE:STE)

Teachers Retirement System of The State of Kentucky decreased its holdings in STERIS plc (NYSE:STE) by 4.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,520 shares of the medical equipment provider’s stock after selling 432 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in STERIS were worth $1,873,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of STERIS in the 4th quarter valued at $34,000. Pingora Partners LLC purchased a new stake in shares of STERIS in the 4th quarter valued at $37,000. Glassman Wealth Services purchased a new stake in shares of STERIS in the 4th quarter valued at $38,000. Spire Wealth Management raised its holdings in STERIS by 88.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in STERIS by 144.9% during the 4th quarter. AdvisorNet Financial Inc now owns 311 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the transaction, the senior vice president now directly owns 11,369 shares in the company, valued at approximately $2,639,085.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jacqueline B. Kosecoff sold 4,584 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the sale, the senior vice president now directly owns 11,369 shares in the company, valued at $2,639,085.97. The disclosure for this sale can be found here. Insiders sold a total of 7,762 shares of company stock worth $1,798,477 in the last three months. 1.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on STE shares. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, May 10th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target (up from $220.00) on shares of STERIS in a report on Friday, May 10th. Finally, StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.60.

STERIS Stock Down 0.4 %

Shares of NYSE STE opened at $218.41 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. STERIS plc has a 12 month low of $195.47 and a 12 month high of $254.00. The firm has a market capitalization of $21.59 billion, a PE ratio of 57.18 and a beta of 0.85. The firm has a fifty day simple moving average of $218.42 and a two-hundred day simple moving average of $220.38.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business earned $2.30 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts expect that STERIS plc will post 9.24 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. STERIS’s payout ratio is 54.45%.

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.