STERIS plc (NYSE:STE) Stake Cut by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its holdings in STERIS plc (NYSE:STE) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,959 shares of the medical equipment provider’s stock after selling 682 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in STERIS were worth $475,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of STERIS in the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division acquired a new position in STERIS in the third quarter valued at approximately $28,000. Quent Capital LLC boosted its stake in STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares during the period. Headlands Technologies LLC bought a new position in shares of STERIS during the first quarter valued at approximately $36,000. Finally, Versant Capital Management Inc raised its position in shares of STERIS by 2,262.5% during the 2nd 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 period. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.5 %

STE stock opened at $220.12 on Friday. The firm’s 50-day moving average is $230.37 and its two-hundred day moving average is $228.26. The company has a market capitalization of $21.73 billion, a price-to-earnings ratio of 50.26 and a beta of 0.85. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE) last released 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 $2.12 by $0.02. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. On average, analysts forecast that STERIS plc will post 9.15 earnings per share for the current fiscal year.

STERIS Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STE shares. Stephens restated an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Finally, KeyCorp raised their price target on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

Insiders Place Their Bets

In other 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 value of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 35.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.14% of the stock is owned by company insiders.

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.