STERIS (NYSE:STE) Sees Unusually-High Trading Volume – Here’s Why

Shares of STERIS plc (NYSE:STE) saw unusually-strong trading volume on Friday . Approximately 351,770 shares changed hands during mid-day trading, a decline of 28% from the previous session’s volume of 486,465 shares.The stock last traded at $216.99 and had previously closed at $215.50.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Finally, Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $253.00.

STERIS Stock Up 1.7 %

The firm’s fifty day moving average is $232.29 and its 200-day moving average is $227.79. The company has a market capitalization of $21.62 billion, a P/E ratio of 50.04 and a beta of 0.85. 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 (NYSE:STE) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.03. STERIS had a net margin of 8.02% and a return on equity of 13.91%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $2.03 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that STERIS plc will post 9.02 EPS for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Tuesday, November 19th. STERIS’s payout ratio is 52.05%.

Insider Activity

In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On STERIS

Several institutional investors and hedge funds have recently made changes to their positions in the stock. West Coast Financial LLC lifted its stake in shares of STERIS by 2.8% in the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after purchasing an additional 45 shares during the period. Taylor Frigon Capital Management LLC boosted its holdings 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 buying an additional 46 shares in the last quarter. J.Safra Asset Management Corp grew 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 worth $27,000 after buying an additional 53 shares during the period. Mather Group LLC. increased its stake in shares of STERIS by 7.6% in the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock valued at $172,000 after acquiring an additional 54 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of STERIS by 16.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock valued at $82,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

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.