DekaBank Deutsche Girozentrale Decreases Stake in STERIS plc (NYSE:STE)

DekaBank Deutsche Girozentrale lessened its stake in STERIS plc (NYSE:STE) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,863 shares of the medical equipment provider’s stock after selling 464 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in STERIS were worth $7,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. J.Safra Asset Management Corp grew its position in STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS in the 3rd quarter worth approximately $28,000. Quent Capital LLC grew its holdings in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares during the period. Headlands Technologies LLC purchased a new position in STERIS in the 1st quarter valued at approximately $36,000. Finally, Versant Capital Management Inc raised its holdings in STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Buying and Selling

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher S. Holland sold 473 shares of the business’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 transaction of $113,368.64. Following the completion of the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Stephens restated an “overweight” rating and set a $260.00 target price on shares of STERIS in a report on Wednesday, August 7th. KeyCorp lifted their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and increased their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

STERIS Stock Performance

Shares of NYSE STE opened at $224.42 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The company has a market cap of $22.13 billion, a PE ratio of 55.69 and a beta of 0.84. The company has a 50-day simple moving average of $234.38 and a 200-day simple moving average of $226.73. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company earned $2.00 EPS. STERIS’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts anticipate that STERIS plc will post 9.06 earnings per share for the current year.

STERIS 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.