New York State Teachers Retirement System Cuts Stock Position in STERIS plc (NYSE:STE)

New York State Teachers Retirement System cut its holdings in STERIS plc (NYSE:STE) by 1.9% in the third quarter, HoldingsChannel reports. The firm owned 86,386 shares of the medical equipment provider’s stock after selling 1,633 shares during the quarter. New York State Teachers Retirement System’s holdings in STERIS were worth $20,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of STERIS in the third quarter valued at $28,000. J.Safra Asset Management Corp grew its holdings in shares of STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. Quent Capital LLC grew its holdings in shares of STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of STERIS in the first quarter valued at $36,000. Finally, Versant Capital Management Inc lifted its position 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 worth $41,000 after buying an additional 181 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction dated 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 sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction dated 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 sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.

STERIS Stock Up 1.5 %

NYSE:STE opened at $225.18 on Friday. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 55.88 and a beta of 0.84. The stock has a fifty day simple moving average of $233.72 and a 200-day simple moving average of $226.84. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts anticipate that STERIS plc will post 9.02 EPS for the current year.

STERIS Dividend Announcement

The company 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 $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. STERIS’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STE. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. JMP Securities restated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. KeyCorp raised their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and an average target price of $253.00.

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.