Portside Wealth Group LLC Reduces Holdings in STERIS plc (NYSE:STE)

Portside Wealth Group LLC lowered its stake in STERIS plc (NYSE:STE) by 52.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,238 shares of the medical equipment provider’s stock after selling 1,353 shares during the quarter. Portside Wealth Group LLC’s holdings in STERIS were worth $300,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. West Coast Financial LLC lifted its position in shares of STERIS by 2.8% in the third quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after acquiring an additional 45 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of STERIS by 0.8% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after purchasing an additional 46 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of 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 in the last quarter. Mather Group LLC. raised its position in shares of STERIS by 7.6% in the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock valued at $172,000 after buying an additional 54 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of STERIS by 16.5% during the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock valued at $82,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Trading Up 1.7 %

NYSE STE opened at $219.19 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. STERIS plc has a one year low of $195.47 and a one year high of $248.24. The company’s 50 day moving average price is $232.29 and its 200 day moving average price is $227.79. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 50.04 and a beta of 0.85.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.03. STERIS had a net margin of 8.02% and a return on equity of 13.91%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $2.03 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that STERIS plc will post 9.02 EPS for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Insiders Place Their Bets

In other news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STE has been the subject of several analyst reports. KeyCorp boosted their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday. Stephens reiterated an “overweight” rating and set a $260.00 price objective on shares of STERIS in a report on Thursday. Finally, Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and an average price target of $253.00.

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.