Mitsubishi UFJ Asset Management UK Ltd. Sells 1,000 Shares of STERIS plc (NYSE:STE)

Mitsubishi UFJ Asset Management UK Ltd. cut its position in shares of STERIS plc (NYSE:STE) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000 shares of the medical equipment provider’s stock after selling 1,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in STERIS were worth $206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Perpetual Ltd grew its position in STERIS by 8.2% in the fourth quarter. Perpetual Ltd now owns 45,254 shares of the medical equipment provider’s stock valued at $9,302,000 after acquiring an additional 3,414 shares during the period. Strong Tower Advisory Services boosted its stake in STERIS by 13.6% in the fourth quarter. Strong Tower Advisory Services now owns 9,771 shares of the medical equipment provider’s stock worth $2,009,000 after purchasing an additional 1,166 shares in the last quarter. Diversify Wealth Management LLC lifted its stake in shares of STERIS by 42.0% during the fourth quarter. Diversify Wealth Management LLC now owns 5,994 shares of the medical equipment provider’s stock valued at $1,233,000 after acquiring an additional 1,772 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of STERIS by 4.3% during the fourth quarter. Cranbrook Wealth Management LLC now owns 2,159 shares of the medical equipment provider’s stock valued at $444,000 after acquiring an additional 90 shares during the period. Finally, Merit Financial Group LLC acquired a new position in STERIS in the fourth quarter valued at about $260,000. 94.69% of the stock is currently owned by institutional investors.

Insider Transactions at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value 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 $2,471,363.04. The trade was a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.14% of the company’s stock.

STERIS Trading Up 3.5 %

Shares of NYSE STE opened at $216.91 on Wednesday. The company has a market cap of $21.41 billion, a PE ratio of 49.52 and a beta of 0.84. The firm’s 50 day moving average price is $211.79 and its 200-day moving average price is $224.77. STERIS plc has a 52-week low of $197.82 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.

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

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders 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 yield of 1.05%. The ex-dividend date of this dividend was Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is 52.05%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STE shares. Stephens reiterated an “overweight” rating and set 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. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $262.50.

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.