MetLife Investment Management LLC Sells 710 Shares of STERIS plc (NYSE:STE)

MetLife Investment Management LLC trimmed its holdings in shares of STERIS plc (NYSE:STE) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 25,641 shares of the medical equipment provider’s stock after selling 710 shares during the quarter. MetLife Investment Management LLC’s holdings in STERIS were worth $6,219,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in STE. Ashton Thomas Securities LLC acquired a new position in STERIS in the third quarter worth about $25,000. Central Pacific Bank Trust Division bought a new stake in shares of STERIS in the 3rd quarter valued at approximately $28,000. Versant Capital Management Inc raised 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 worth $41,000 after buying an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of STERIS by 154.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 116 shares during the period. Finally, Isthmus Partners LLC acquired a new stake in STERIS in the 2nd quarter valued at $44,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at STERIS

In related 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 sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Cary L. Majors sold 1,682 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.

STERIS Trading Up 0.7 %

STE opened at $219.06 on Friday. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The stock has a market capitalization of $21.62 billion, a PE ratio of 50.01 and a beta of 0.85. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $225.01 and a two-hundred day moving average price of $228.28.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $2.03 earnings per share. STERIS’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that STERIS plc will post 9.15 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company 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 1.04%. STERIS’s payout ratio is currently 52.05%.

Wall Street Analysts Forecast Growth

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