Truist Financial Corp Sells 942 Shares of STERIS plc (NYSE:STE)

Truist Financial Corp cut its stake in shares of STERIS plc (NYSE:STE) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,256 shares of the medical equipment provider’s stock after selling 942 shares during the period. Truist Financial Corp’s holdings in STERIS were worth $3,788,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in shares of STERIS by 8.3% during the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after purchasing an additional 4,494 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in 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 buying an additional 3,342 shares during the last quarter. Caden Capital Partners LP lifted 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 worth $18,096,000 after buying an additional 36,576 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of STERIS during the 1st quarter worth approximately $903,000. Finally, Perpetual Ltd boosted its stake in shares of STERIS by 9.3% in the 1st quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock worth $9,121,000 after buying an additional 3,437 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

STERIS Trading Up 0.5 %

Shares of STE opened at $227.22 on Wednesday. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The business has a 50-day moving average of $237.60 and a 200 day moving average of $225.79. The firm has a market cap of $22.46 billion, a P/E ratio of 59.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share 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 the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $2.00 earnings per share. As a group, research analysts forecast that STERIS plc will post 9.06 EPS for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.28 annualized dividend and a dividend yield of 1.00%. This is an increase from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio is currently 59.69%.

Wall Street Analyst Weigh In

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

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.