STERIS plc (NYSE:STE) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. trimmed its position in STERIS plc (NYSE:STE) by 9.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,551 shares of the medical equipment provider’s stock after selling 1,146 shares during the period. Panagora Asset Management Inc.’s holdings in STERIS were worth $2,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Personal Financial Services bought a new position in STERIS during the 1st quarter worth approximately $25,000. J.Safra Asset Management Corp raised its position in shares of STERIS by 77.9% during the 1st 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. Quent Capital LLC lifted its stake in STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 71 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in STERIS in the fourth quarter worth $34,000. Finally, Headlands Technologies LLC bought a new stake in STERIS during the first quarter valued at $36,000. 94.69% of the stock is owned by institutional investors.

Insider Buying and Selling at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STE. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research 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 research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. Finally, Stephens restated an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and an average target price of $243.60.

STERIS Stock Performance

STE opened at $241.10 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $228.94 and its 200-day moving average is $224.50. The stock has a market cap of $23.78 billion, a PE ratio of 63.12 and a beta of 0.83. STERIS plc has a twelve month low of $195.47 and a twelve month high of $243.37.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $2.00 EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that STERIS plc will post 9.17 earnings per share for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors 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 0.95%. The ex-dividend date of this dividend is Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio is currently 54.45%.

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.