Whittier Trust Co. Has $1.17 Million Stock Position in STERIS plc (NYSE:STE)

Whittier Trust Co. reduced its holdings in STERIS plc (NYSE:STE) by 89.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,340 shares of the medical equipment provider’s stock after selling 44,139 shares during the period. Whittier Trust Co.’s holdings in STERIS were worth $1,172,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. HB Wealth Management LLC acquired a new stake in shares of STERIS during the 2nd quarter valued at about $204,000. Checchi Capital Advisers LLC acquired a new stake in STERIS in the 2nd quarter worth approximately $203,000. Park Edge Advisors LLC lifted its holdings in STERIS by 4.6% in the 2nd quarter. Park Edge Advisors LLC now owns 4,611 shares of the medical equipment provider’s stock worth $1,012,000 after purchasing an additional 202 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in STERIS by 16.7% in the 2nd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 7,000 shares of the medical equipment provider’s stock worth $1,537,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in STERIS by 6.4% in the 2nd quarter. Bailard Inc. now owns 1,150 shares of the medical equipment provider’s stock worth $252,000 after purchasing an additional 69 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

STE opened at $237.71 on Friday. The stock has a market cap of $23.44 billion, a PE ratio of 62.23 and a beta of 0.83. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. STERIS plc has a 1 year low of $195.47 and a 1 year high of $243.37. The stock’s 50 day simple moving average is $228.48 and its 200-day simple moving average is $224.38.

STERIS (NYSE:STE) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast that STERIS plc will post 9.17 EPS for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.96%. This is a boost from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 5th. STERIS’s dividend payout ratio is 54.45%.

Analysts Set New Price Targets

Several research firms recently weighed in on STE. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Piper Sandler restated a “neutral” rating and issued a $225.00 target price (up from $220.00) on shares of STERIS in a report on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Finally, Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.60.

Insider Buying and Selling at STERIS

In other STERIS news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.14% of the company’s stock.

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.