Congress Asset Management Co. MA Sells 14,932 Shares of STERIS plc (NYSE:STE)

Congress Asset Management Co. MA reduced its stake in STERIS plc (NYSE:STEFree Report) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 578,201 shares of the medical equipment provider’s stock after selling 14,932 shares during the quarter. Congress Asset Management Co. MA owned 0.59% of STERIS worth $127,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STE. VisionPoint Advisory Group LLC purchased a new position in shares of STERIS in the 4th quarter worth about $34,000. Pingora Partners LLC purchased a new stake in STERIS during the fourth quarter valued at about $37,000. Glassman Wealth Services purchased a new stake in STERIS during the fourth quarter valued at about $38,000. Spire Wealth Management lifted its holdings in STERIS by 88.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in STERIS by 144.9% during the fourth quarter. AdvisorNet Financial Inc now owns 311 shares of the medical equipment provider’s stock valued at $68,000 after purchasing an additional 184 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STERIS stock traded down $2.76 on Friday, reaching $218.29. The stock had a trading volume of 694,341 shares, compared to its average volume of 465,019. STERIS plc has a 1 year low of $195.47 and a 1 year high of $254.00. The company has a market cap of $21.58 billion, a P/E ratio of 57.14 and a beta of 0.85. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $217.61 and its two-hundred day moving average is $219.92.

STERIS (NYSE:STEGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.17. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. STERIS had a net margin of 6.95% and a return on equity of 13.73%. STERIS’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.30 earnings per share. As a group, research analysts anticipate that STERIS plc will post 9.24 EPS for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, June 12th. STERIS’s dividend payout ratio (DPR) is 54.45%.

Insider Buying and Selling

In related news, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the transaction, the vice president now directly owns 6,677 shares in the company, valued at $1,546,660.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other STERIS news, VP Renato Tamaro sold 1,154 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total transaction of $267,312.56. Following the transaction, the vice president now directly owns 6,677 shares in the company, valued at $1,546,660.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the transaction, the senior vice president now owns 11,369 shares in the company, valued at $2,639,085.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,762 shares of company stock worth $1,798,477. Insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on STE shares. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective (up from $220.00) on shares of STERIS in a report on Friday, May 10th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, May 10th. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and an average target price of $241.60.

View Our Latest Report on STE

STERIS Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for STERIS (NYSE:STE)

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