M&T Bank Corp Has $7.92 Million Stock Holdings in STERIS plc (NYSE:STE)

M&T Bank Corp reduced its position in STERIS plc (NYSE:STE) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,638 shares of the medical equipment provider’s stock after selling 547 shares during the period. M&T Bank Corp’s holdings in STERIS were worth $7,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in STERIS in the third quarter worth about $25,000. Central Pacific Bank Trust Division bought a new position in shares of STERIS in the 3rd quarter valued at about $28,000. Brown Brothers Harriman & Co. grew its position 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 buying an additional 116 shares during the period. Isthmus Partners LLC bought a new stake in shares of STERIS during the second quarter worth approximately $44,000. Finally, Mascoma Wealth Management LLC acquired a new position in STERIS in the second quarter valued at approximately $61,000. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Up 1.5 %

Shares of STERIS stock opened at $207.49 on Monday. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The company has a market capitalization of $20.48 billion, a P/E ratio of 47.37 and a beta of 0.83. The business has a 50-day moving average of $218.92 and a two-hundred day moving average of $226.64.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $2.03 EPS. As a group, equities analysts predict that STERIS plc will post 9.1 EPS for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, November 19th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Tuesday, November 19th. STERIS’s payout ratio is presently 52.05%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research report on Monday, November 18th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Stephens reissued an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and an average price target of $262.50.

Insiders Place Their Bets

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.14% of the company’s stock.

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.