Boston Financial Mangement LLC Decreases Holdings in STERIS plc (NYSE:STE)

Boston Financial Mangement LLC trimmed its holdings in shares of STERIS plc (NYSE:STE) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 205,737 shares of the medical equipment provider’s stock after selling 2,209 shares during the period. STERIS accounts for about 1.4% of Boston Financial Mangement LLC’s holdings, making the stock its 15th biggest holding. Boston Financial Mangement LLC owned approximately 0.21% of STERIS worth $45,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in STE. International Assets Investment Management LLC acquired a new position in STERIS in the 4th quarter worth $2,223,000. Atria Wealth Solutions Inc. lifted its holdings in STERIS by 3.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,973 shares of the medical equipment provider’s stock worth $654,000 after buying an additional 99 shares in the last quarter. Truist Financial Corp lifted its holdings in STERIS by 2.0% in the 4th quarter. Truist Financial Corp now owns 28,364 shares of the medical equipment provider’s stock worth $6,236,000 after buying an additional 551 shares in the last quarter. Choreo LLC acquired a new position in STERIS in the 4th quarter worth $320,000. Finally, Van ECK Associates Corp lifted its holdings in STERIS by 3.0% in the 4th quarter. Van ECK Associates Corp now owns 12,406 shares of the medical equipment provider’s stock worth $2,727,000 after buying an additional 364 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 473 shares of the 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 in the company, valued at $139,493.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.14% of the stock is owned by company insiders.

STERIS Stock Performance

STE traded up $3.39 on Friday, hitting $241.10. 426,359 shares of the company’s stock were exchanged, compared to its average volume of 476,344. The firm has a market cap of $23.78 billion, a PE ratio of 63.12 and a beta of 0.83. STERIS plc has a twelve month low of $195.47 and a twelve month high of $243.37. The stock has a fifty day moving average of $228.94 and a two-hundred day moving average of $224.50. 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 (NYSE:STE) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. On average, research analysts anticipate that STERIS plc will post 9.17 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a dividend of $0.57 per share. This is a positive change from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 5th. This represents a $2.28 annualized dividend and a yield of 0.95%. STERIS’s dividend payout ratio is 54.45%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STE shares. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Three investment 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, the company currently has an average rating of “Moderate Buy” and an average price target of $243.60.

STERIS Company 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.