Gulf International Bank UK Ltd Sells 12,207 Shares of STERIS plc (NYSE:STE)

Gulf International Bank UK Ltd cut its position in STERIS plc (NYSE:STE) by 61.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,794 shares of the medical equipment provider’s stock after selling 12,207 shares during the period. Gulf International Bank UK Ltd’s holdings in STERIS were worth $1,890,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC acquired a new position in STERIS during the 3rd quarter valued at about $1,210,000. QRG Capital Management Inc. purchased a new stake in STERIS in the 3rd quarter valued at about $232,000. Asset Management One Co. Ltd. lifted its position in shares of STERIS by 1.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 101,685 shares of the medical equipment provider’s stock worth $24,620,000 after buying an additional 1,779 shares in the last quarter. National Pension Service boosted its stake in shares of STERIS by 5.0% in the 3rd quarter. National Pension Service now owns 159,386 shares of the medical equipment provider’s stock worth $38,657,000 after buying an additional 7,574 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of STERIS by 111.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,196 shares of the medical equipment provider’s stock worth $1,988,000 after buying an additional 4,311 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE:STE opened at $215.50 on Friday. The company has a 50-day moving average price of $232.73 and a two-hundred day moving average price of $227.52. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $21.25 billion, a PE ratio of 49.20 and a beta of 0.85.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.03. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business 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. STERIS’s revenue was up 7.3% compared to the same quarter last year. Equities analysts forecast that STERIS plc will post 9.02 EPS for the current year.

STERIS Announces Dividend

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

Wall Street Analysts Forecast Growth

STE has been the topic of a number of recent analyst reports. Piper Sandler upgraded 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 report on Thursday, October 24th. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Thursday. Finally, KeyCorp increased their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Insiders Place Their Bets

In other news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated 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 directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.14% of the stock is owned by corporate insiders.

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.