Trueblood Wealth Management LLC Sells 303 Shares of STERIS plc (NYSE:STE)

Trueblood Wealth Management LLC cut its stake in shares of STERIS plc (NYSE:STE) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,523 shares of the medical equipment provider’s stock after selling 303 shares during the period. Trueblood Wealth Management LLC’s holdings in STERIS were worth $930,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STE. Ashton Thomas Securities LLC bought a new position in STERIS in the third quarter valued at about $25,000. Central Pacific Bank Trust Division acquired a new stake in STERIS during the 3rd quarter worth approximately $28,000. Quarry LP bought a new stake in STERIS during the 3rd quarter worth approximately $67,000. Asset Dedication LLC increased its position in STERIS by 54.8% in the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock valued at $71,000 after acquiring an additional 103 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of STERIS by 45.0% during the second quarter. EverSource Wealth Advisors LLC now owns 583 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 181 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on STE shares. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and increased their price target for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $262.50.

STERIS Stock Performance

Shares of STE stock opened at $209.50 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24. The firm has a 50 day moving average of $212.04 and a 200-day moving average of $224.82. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 47.83 and a beta of 0.84.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $2.03 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that STERIS plc will post 9.1 earnings per share for the current year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Tuesday, November 19th. STERIS’s payout ratio is 52.05%.

Insider Activity at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by insiders.

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.