STERIS plc (NYSE:STE) Stake Lessened by Commerce Bank

Commerce Bank lessened its stake in shares of STERIS plc (NYSE:STE) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,668 shares of the medical equipment provider’s stock after selling 110 shares during the quarter. Commerce Bank’s holdings in STERIS were worth $1,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STE. Massachusetts Financial Services Co. MA raised its stake in shares of STERIS by 13.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after buying an additional 778,613 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock valued at $75,132,000 after acquiring an additional 305,651 shares during the last quarter. Impax Asset Management Group plc boosted its position in shares of STERIS by 29.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after purchasing an additional 263,383 shares in the last quarter. American Century Companies Inc. grew its stake in shares of STERIS by 1,946.3% in the 2nd quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock worth $59,344,000 after purchasing an additional 257,101 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of STERIS by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after purchasing an additional 120,616 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Down 0.7 %

STE opened at $214.34 on Monday. The firm has a market cap of $21.16 billion, a P/E ratio of 48.94 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The business has a 50 day moving average price of $227.28 and a 200 day moving average price of $228.63. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24.

STERIS (NYSE:STE) last issued 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. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. STERIS’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.03 earnings per share. Research analysts forecast that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.06%. STERIS’s payout ratio is presently 52.05%.

Wall Street Analyst Weigh In

STE has been the subject of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Monday, November 18th. KeyCorp boosted their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Buying and Selling

In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.14% of the stock is owned by insiders.

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.