Lbp Am Sa Cuts Stock Holdings in STERIS plc $STE

Lbp Am Sa reduced its position in shares of STERIS plc (NYSE:STE) by 55.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,691 shares of the medical equipment provider’s stock after selling 13,262 shares during the period. Lbp Am Sa’s holdings in STERIS were worth $2,568,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Truist Financial Corp increased its stake in STERIS by 116.2% during the 2nd quarter. Truist Financial Corp now owns 31,064 shares of the medical equipment provider’s stock worth $7,462,000 after buying an additional 16,694 shares in the last quarter. Greenleaf Trust increased its stake in STERIS by 9.6% during the 2nd quarter. Greenleaf Trust now owns 2,683 shares of the medical equipment provider’s stock worth $645,000 after buying an additional 235 shares in the last quarter. GC Wealth Management RIA LLC purchased a new stake in STERIS during the 2nd quarter worth approximately $249,000. V Square Quantitative Management LLC increased its stake in STERIS by 6.5% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,875 shares of the medical equipment provider’s stock worth $691,000 after buying an additional 176 shares in the last quarter. Finally, Hengehold Capital Management LLC increased its stake in STERIS by 15.0% during the 2nd quarter. Hengehold Capital Management LLC now owns 2,617 shares of the medical equipment provider’s stock worth $629,000 after buying an additional 342 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Up 0.4%

STE stock opened at $242.35 on Friday. The firm has a market cap of $23.87 billion, a PE ratio of 37.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The firm’s 50 day moving average price is $242.84 and its 200-day moving average price is $235.12. STERIS plc has a one year low of $200.98 and a one year high of $253.00.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.32 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.03 EPS. On average, equities research analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, September 4th. This is a boost from STERIS’s previous quarterly dividend of $0.57. STERIS’s dividend payout ratio is presently 38.59%.

Insider Activity

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.56, for a total transaction of $844,252.20. Following the transaction, the director directly owned 705 shares in the company, valued at $170,299.80. This represents a 83.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Karen L. Burton sold 7,900 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the transaction, the chief accounting officer owned 5,994 shares in the company, valued at $1,448,929.62. This trade represents a 56.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,709 shares of company stock worth $4,546,940 in the last 90 days. 1.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Morgan Stanley boosted their target price on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, KeyCorp boosted their target price on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

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.