Dearborn Partners LLC Sells 2,209 Shares of STERIS plc (NYSE:STE)

Dearborn Partners LLC trimmed its stake in STERIS plc (NYSE:STE) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,117 shares of the medical equipment provider’s stock after selling 2,209 shares during the quarter. Dearborn Partners LLC owned approximately 0.13% of STERIS worth $31,074,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in STE. Bleakley Financial Group LLC increased its holdings in STERIS by 8.7% during the third quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 134 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of STERIS by 8.3% during the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after purchasing an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of STERIS by 3.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock valued at $23,909,000 after purchasing an additional 3,342 shares during the period. Assetmark Inc. lifted its stake in STERIS by 24.6% in the 3rd quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock valued at $3,252,000 after purchasing an additional 2,647 shares during the last quarter. Finally, BDF Gestion bought a new position in STERIS during the second quarter worth about $2,644,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Transactions at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.14% of the stock is currently owned by insiders.

STERIS Price Performance

NYSE:STE opened at $221.19 on Friday. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24. 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 firm’s 50-day simple moving average is $231.12 and its 200 day simple moving average is $228.20. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 50.50 and a beta of 0.85.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $2.03 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. STERIS’s payout ratio is 52.05%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on STE. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. KeyCorp raised their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Stephens reiterated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.