Massachusetts Financial Services Co. MA Lowers Holdings in STERIS plc (NYSE:STE)

Massachusetts Financial Services Co. MA reduced its stake in shares of STERIS plc (NYSE:STE) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,335,505 shares of the medical equipment provider’s stock after selling 107,300 shares during the quarter. Massachusetts Financial Services Co. MA owned 6.42% of STERIS worth $1,536,613,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in STERIS during the third quarter valued at $25,000. Central Pacific Bank Trust Division acquired a new stake in STERIS in the 3rd quarter valued at $28,000. Quent Capital LLC increased its holdings in STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares in the last quarter. Versant Capital Management Inc raised its position in STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in STERIS by 154.7% during the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 116 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. KeyCorp upped their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Monday. Finally, Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Trading Up 0.1 %

Shares of STE stock opened at $212.25 on Thursday. The business’s fifty day moving average price is $229.10 and its 200 day moving average price is $228.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The firm has a market capitalization of $20.95 billion, a PE ratio of 48.46 and a beta of 0.85. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.03 EPS. As a group, sell-side analysts forecast that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.07%. STERIS’s dividend payout ratio is presently 52.05%.

Insider Buying and Selling at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is owned by company insiders.

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.