STERIS plc (NYSE:STE) Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in STERIS plc (NYSE:STE) by 2.8% in the second quarter, Holdings Channel reports. The fund owned 25,023 shares of the medical equipment provider’s stock after selling 711 shares during the period. US Bancorp DE’s holdings in STERIS were worth $5,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Yousif Capital Management LLC increased its stake in shares of STERIS by 2.3% in the 2nd quarter. Yousif Capital Management LLC now owns 16,078 shares of the medical equipment provider’s stock worth $3,617,000 after acquiring an additional 363 shares during the last quarter. LPL Financial LLC increased its stake in shares of STERIS by 4.7% in the 2nd quarter. LPL Financial LLC now owns 91,062 shares of the medical equipment provider’s stock worth $20,487,000 after acquiring an additional 4,093 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of STERIS by 9.4% during the 2nd quarter. Daymark Wealth Partners LLC now owns 6,278 shares of the medical equipment provider’s stock worth $1,412,000 after purchasing an additional 539 shares during the period. Rhumbline Advisers grew its holdings in shares of STERIS by 4.2% during the 1st quarter. Rhumbline Advisers now owns 212,054 shares of the medical equipment provider’s stock worth $40,562,000 after purchasing an additional 8,631 shares during the period. Finally, Resources Investment Advisors LLC. purchased a new position in shares of STERIS during the 1st quarter worth $516,000. 92.91% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of STERIS stock opened at $199.80 on Tuesday. The business has a 50-day moving average of $217.18 and a 200 day moving average of $217.50. STERIS plc has a 12 month low of $166.99 and a 12 month high of $254.00. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of 36.13 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.49 and a quick ratio of 1.55.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, November 7th. The medical equipment provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.30 billion. STERIS had a net margin of 10.52% and a return on equity of 13.58%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.99 earnings per share. As a group, sell-side analysts forecast that STERIS plc will post 8.7 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Tuesday, November 21st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $2.08 dividend on an annualized basis and a yield of 1.04%. STERIS’s dividend payout ratio is currently 37.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on STE shares. StockNews.com started coverage on STERIS in a report on Thursday, October 5th. They set a “buy” rating for the company. Piper Sandler lowered their price target on STERIS from $220.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. KeyCorp increased their price target on STERIS from $254.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Stephens reiterated an “overweight” rating and set a $250.00 price target on shares of STERIS in a report on Monday, September 25th. Finally, JMP Securities restated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.60.

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.