Carderock Capital Management Inc. Sells 2,666 Shares of STERIS plc (NYSE:STE)

Carderock Capital Management Inc. trimmed its holdings in STERIS plc (NYSE:STE) by 9.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 26,922 shares of the medical equipment provider’s stock after selling 2,666 shares during the period. Carderock Capital Management Inc.’s holdings in STERIS were worth $5,534,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Merit Financial Group LLC bought a new stake in STERIS during the fourth quarter worth about $260,000. Central Valley Advisors LLC raised its position in shares of STERIS by 10.9% in the 4th quarter. Central Valley Advisors LLC now owns 6,182 shares of the medical equipment provider’s stock valued at $1,271,000 after buying an additional 609 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in shares of STERIS by 1.5% during the 4th quarter. Carnegie Investment Counsel now owns 57,188 shares of the medical equipment provider’s stock worth $11,756,000 after acquiring an additional 833 shares during the period. Park Avenue Securities LLC boosted its position in shares of STERIS by 5.6% during the 4th quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider’s stock worth $487,000 after acquiring an additional 126 shares in the last quarter. Finally, Oak Thistle LLC boosted its position in shares of STERIS by 593.0% during the 4th quarter. Oak Thistle LLC now owns 8,385 shares of the medical equipment provider’s stock worth $1,724,000 after acquiring an additional 7,175 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Insider Activity

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares in the company, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.14% of the company’s stock.

Wall Street Analyst Weigh In

STE has been the subject of several recent analyst reports. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Stephens reissued an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $262.50.

STERIS Trading Down 0.3 %

Shares of STE stock opened at $209.50 on Friday. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24. The stock’s fifty day simple moving average is $212.04 and its 200 day simple moving average is $224.72. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $20.68 billion, a P/E ratio of 47.83 and a beta of 0.84.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.03 earnings per share. As a group, sell-side analysts predict that STERIS plc will post 9.1 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is currently 52.05%.

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.