Natixis Advisors LLC Cuts Position in STERIS plc (NYSE:STE)

Natixis Advisors LLC lessened its stake in STERIS plc (NYSE:STE) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,612 shares of the medical equipment provider’s stock after selling 11,124 shares during the quarter. Natixis Advisors LLC owned 0.15% of STERIS worth $36,529,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of STERIS in the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division purchased a new position in shares of STERIS in the 3rd quarter valued at about $28,000. Quent Capital LLC increased its holdings in shares of STERIS by 112.7% in the 1st 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. Versant Capital Management Inc increased its holdings in shares of STERIS by 2,262.5% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in STERIS by 154.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

STERIS stock opened at $220.12 on Monday. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The stock has a market capitalization of $21.73 billion, a P/E ratio of 50.26 and a beta of 0.85. The firm’s 50-day moving average is $230.37 and its two-hundred day moving average is $228.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (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 company earned $2.03 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities 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. Investors of record on Tuesday, November 19th will be given a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. STERIS’s dividend payout ratio is presently 52.05%.

Insider Buying and Selling

In related news, CFO Michael J. Tokich sold 23,332 shares of the firm’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 value of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STE. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and raised their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. JMP Securities restated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Stephens restated an “overweight” rating and set a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

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.