Bleakley Financial Group LLC Lowers Stock Position in STERIS plc (NYSE:STE)

Bleakley Financial Group LLC lowered its stake in STERIS plc (NYSE:STE) by 35.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,078 shares of the medical equipment provider’s stock after selling 602 shares during the period. Bleakley Financial Group LLC’s holdings in STERIS were worth $222,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of STE. Ashton Thomas Securities LLC purchased a new position in STERIS in the third quarter valued at about $25,000. Central Pacific Bank Trust Division raised its stake in STERIS by 65.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 76 shares during the last quarter. Quarry LP acquired a new stake in STERIS during the third quarter worth approximately $67,000. Asset Dedication LLC grew its position in shares of STERIS by 54.8% in the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock valued at $71,000 after purchasing an additional 103 shares during the period. Finally, R Squared Ltd acquired a new position in shares of STERIS during the 4th quarter valued at about $78,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STE. Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday, February 6th. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of STERIS in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, STERIS currently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

Insider Transactions at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction on Monday, November 25th. The stock was 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 owns 11,372 shares in the company, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company’s stock.

STERIS Stock Down 2.0 %

Shares of STERIS stock opened at $219.00 on Thursday. The company has a market capitalization of $21.62 billion, a P/E ratio of 46.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.55. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The business’s fifty day moving average price is $212.81 and its two-hundred day moving average price is $224.37.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. As a group, research analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS’s payout ratio is 48.41%.

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.