Oppenheimer Asset Management Inc. Sells 7,173 Shares of STERIS plc (NYSE:STE)

Oppenheimer Asset Management Inc. cut its stake in STERIS plc (NYSE:STE) by 57.1% in the 3rd quarter, Holdings Channel reports. The fund owned 5,382 shares of the medical equipment provider’s stock after selling 7,173 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in STERIS were worth $1,305,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of STERIS during the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division purchased a new stake in STERIS in the third quarter worth approximately $28,000. Quent Capital LLC grew its position in STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 181 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of STERIS by 154.7% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. This trade represents a 35.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.14% of the company’s stock.

Wall Street Analyst Weigh In

STE has been the subject of several analyst reports. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. KeyCorp upped their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Stephens reaffirmed an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. Finally, Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Price Performance

STE opened at $220.12 on Monday. The firm has a market cap of $21.73 billion, a PE ratio of 50.26 and a beta of 0.85. The stock has a 50-day moving average price of $230.37 and a 200-day moving average price of $228.42. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $2.03 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that STERIS plc will post 9.15 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.04%. STERIS’s dividend payout ratio is 52.05%.

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.