Victory Capital Management Inc. Reduces Stake in STERIS plc (NYSE:STE)

Victory Capital Management Inc. decreased its stake in shares of STERIS plc (NYSE:STE) by 2.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 69,815 shares of the medical equipment provider’s stock after selling 1,433 shares during the period. Victory Capital Management Inc. owned 0.07% of STERIS worth $16,933,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. West Coast Financial LLC lifted its holdings in STERIS by 2.8% during the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock worth $398,000 after purchasing an additional 45 shares in the last quarter. Taylor Frigon Capital Management LLC increased its stake in STERIS by 0.8% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after acquiring an additional 46 shares during the last quarter. Mather Group LLC. increased its stake in STERIS by 7.6% in the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock worth $172,000 after acquiring an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in STERIS by 16.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock worth $82,000 after acquiring an additional 57 shares during the last quarter. Finally, Waterloo Capital L.P. increased its stake in STERIS by 3.2% in the 2nd quarter. Waterloo Capital L.P. now owns 1,916 shares of the medical equipment provider’s stock worth $421,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other 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 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 completion of the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.14% of the company’s stock.

STERIS Price Performance

Shares of STERIS stock opened at $211.98 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $20.92 billion, a PE ratio of 48.40 and a beta of 0.85. The business’s 50-day moving average price is $229.80 and its 200-day moving average price is $228.66. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. The business 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 EPS. Sell-side analysts forecast that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STE. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Monday. 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. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five 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 an average target price of $253.00.

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.