Public Sector Pension Investment Board Acquires 500 Shares of STERIS plc (NYSE:STE)

Public Sector Pension Investment Board boosted its stake in STERIS plc (NYSE:STE) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,283 shares of the medical equipment provider’s stock after acquiring an additional 500 shares during the period. Public Sector Pension Investment Board’s holdings in STERIS were worth $1,039,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in STERIS in the third quarter worth about $25,000. Central Pacific Bank Trust Division bought a new stake in STERIS during the 3rd quarter valued at approximately $28,000. Brown Brothers Harriman & Co. grew its holdings in shares of STERIS by 154.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 116 shares during the period. Isthmus Partners LLC bought a new position in shares of STERIS in the 2nd quarter worth approximately $44,000. Finally, American National Bank purchased a new position in shares of STERIS in the 2nd quarter valued at approximately $53,000. 94.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. KeyCorp increased their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Stephens reissued an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Finally, StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.50.

STERIS Stock Down 0.7 %

Shares of STERIS stock opened at $215.89 on Friday. The company has a 50-day simple moving average of $222.94 and a two-hundred day simple moving average of $227.75. The stock has a market capitalization of $21.31 billion, a PE ratio of 49.29 and a beta of 0.83. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41.

STERIS (NYSE:STE) last announced its quarterly earnings data 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. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $2.03 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts anticipate that STERIS plc will post 9.1 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.06%. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

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.