Forsta AP Fonden Sells 6,000 Shares of STERIS plc (NYSE:STE)

Forsta AP Fonden trimmed its position in STERIS plc (NYSE:STE) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,800 shares of the medical equipment provider’s stock after selling 6,000 shares during the quarter. Forsta AP Fonden’s holdings in STERIS were worth $7,955,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Bleakley Financial Group LLC raised its position in shares of STERIS by 8.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock valued at $407,000 after purchasing an additional 134 shares during the period. Russell Investments Group Ltd. lifted its position in shares of STERIS by 8.3% in 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 acquiring an additional 4,494 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of STERIS by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after acquiring an additional 3,342 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of STERIS during the first quarter worth about $903,000. Finally, BDF Gestion bought a new stake in STERIS during the 2nd quarter valued at approximately $2,644,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 1.4 %

Shares of NYSE STE opened at $224.12 on Monday. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The firm’s 50-day moving average price is $234.76 and its 200-day moving average price is $226.34. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 58.67 and a beta of 0.84.

STERIS (NYSE:STE) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 earnings per share. On average, equities research analysts anticipate that STERIS plc will post 9.06 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed 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. This is a boost from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. STERIS’s payout ratio is 59.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STE shares. KeyCorp increased their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Piper Sandler upgraded 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 report on Thursday. Stephens reissued an “overweight” rating and set a $260.00 price objective on shares of STERIS in a report on Wednesday, August 7th. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Insider Activity

In related news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

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.