Central Pacific Bank Trust Division Buys New Position in STERIS plc (NYSE:STE)

Central Pacific Bank Trust Division purchased a new position in shares of STERIS plc (NYSE:STE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 116 shares of the medical equipment provider’s stock, valued at approximately $28,000.

A number of other hedge funds have also recently modified their holdings of STE. Russell Investments Group Ltd. lifted 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 valued at $13,235,000 after buying an additional 4,494 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in STERIS by 3.2% during the first 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 last quarter. Caden Capital Partners LP raised its position in shares of STERIS by 80.0% during the 4th quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock valued at $18,096,000 after buying an additional 36,576 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in STERIS in the first quarter worth about $903,000. Finally, Perpetual Ltd increased its stake in STERIS by 9.3% during the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock worth $9,121,000 after acquiring an additional 3,437 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Insider Activity at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other STERIS news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction 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 in the company, valued at $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

STERIS Stock Down 0.8 %

Shares of NYSE STE traded down $1.84 during mid-day trading on Friday, reaching $231.02. 378,390 shares of the company were exchanged, compared to its average volume of 445,579. The firm has a 50-day moving average of $238.01 and a 200 day moving average of $225.89. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 60.48 and a beta of 0.84.

STERIS (NYSE:STE) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. On average, research analysts expect that STERIS plc will post 9.06 earnings per share for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.99%. STERIS’s payout ratio is 59.69%.

Analyst Ratings Changes

STE has been the topic of several analyst reports. KeyCorp boosted their target price on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. Stephens reissued an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $246.00.

STERIS 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.