HM Payson & Co. Reduces Stock Position in STERIS plc (NYSE:STE)

HM Payson & Co. lessened its holdings in STERIS plc (NYSE:STE) by 13.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 936 shares of the medical equipment provider’s stock after selling 140 shares during the quarter. HM Payson & Co.’s holdings in STERIS were worth $210,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Personal Financial Services purchased a new position in shares of STERIS during the first quarter worth about $25,000. J.Safra Asset Management Corp grew its holdings in shares of STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares during the last quarter. Quent Capital LLC grew its holdings in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new stake in STERIS in the fourth quarter valued at about $34,000. Finally, Headlands Technologies LLC acquired a new stake in STERIS in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $232.13, for a total value of $469,831.12. Following the sale, the senior vice president now owns 11,369 shares in the company, valued at $2,639,085.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The disclosure for this sale can be found here. Insiders have sold 7,762 shares of company stock worth $1,798,477 in the last quarter. 1.14% of the stock is owned by corporate insiders.

STERIS Stock Down 1.6 %

Shares of NYSE:STE traded down $3.81 during midday trading on Monday, hitting $238.79. 284,723 shares of the company’s stock traded hands, compared to its average volume of 482,116. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. The company has a market cap of $23.61 billion, a PE ratio of 62.42 and a beta of 0.83. The firm’s fifty day moving average price is $224.15 and its two-hundred day moving average price is $222.44. STERIS plc has a twelve month low of $195.47 and a twelve month high of $242.91.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted $2.30 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that STERIS plc will post 9.16 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be issued a $0.57 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is currently 59.69%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STE. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Friday, July 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and an average price target of $241.60.

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.