STERIS plc (NYSE:STE) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of STERIS plc (NYSE:STE) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,016,196 shares of the medical equipment provider’s stock after selling 2,776 shares during the quarter. JPMorgan Chase & Co.’s holdings in STERIS were worth $246,468,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in STE. Franklin Resources Inc. lifted its position in shares of STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after acquiring an additional 529,308 shares during the period. Tidal Investments LLC boosted its position in STERIS by 21.0% during the third quarter. Tidal Investments LLC now owns 12,650 shares of the medical equipment provider’s stock worth $3,068,000 after purchasing an additional 2,193 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in STERIS in the third quarter valued at $9,949,000. World Investment Advisors LLC acquired a new position in shares of STERIS during the 3rd quarter worth $5,171,000. Finally, SkyView Investment Advisors LLC grew its stake in STERIS by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock valued at $765,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on STE shares. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Monday, November 18th. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $262.50.

Insider Transactions at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.14% of the company’s stock.

STERIS Price Performance

Shares of NYSE:STE opened at $205.08 on Tuesday. The business has a fifty day simple moving average of $216.75 and a 200-day simple moving average of $225.88. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24. The company has a market cap of $20.24 billion, a P/E ratio of 46.82 and a beta of 0.83. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. The company had revenue of $1.33 billion during 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 company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 EPS. Equities research analysts forecast that STERIS plc will post 9.1 EPS for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.11%. STERIS’s dividend payout ratio is presently 52.05%.

STERIS 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.