Dakota Wealth Management Cuts Position in STERIS plc (NYSE:STE)

Dakota Wealth Management decreased its position in STERIS plc (NYSE:STE) by 3.4% during the 3rd quarter, Holdings Channel reports. The fund owned 2,201 shares of the medical equipment provider’s stock after selling 78 shares during the quarter. Dakota Wealth Management’s holdings in STERIS were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in STE. J.Safra Asset Management Corp lifted its holdings in 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 last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS during the 3rd quarter worth about $28,000. Quent Capital LLC lifted its stake in STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 71 shares during the last quarter. Headlands Technologies LLC acquired a new position in STERIS in the first quarter valued at approximately $36,000. Finally, Versant Capital Management Inc increased its stake in STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Activity

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on STE shares. Stephens reaffirmed an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Wednesday, August 7th. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. KeyCorp boosted their price objective on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $253.00.

STERIS Price Performance

Shares of NYSE STE opened at $224.01 on Tuesday. The stock has a fifty day moving average price of $234.76 and a 200 day moving average price of $226.46. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The company has a market cap of $22.09 billion, a PE ratio of 55.59 and a beta of 0.84.

STERIS (NYSE:STE) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Sell-side analysts forecast that STERIS plc will post 9.06 EPS for the current year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.02%. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, September 5th. STERIS’s dividend payout ratio is 56.58%.

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.