Copeland Capital Management LLC Trims Stock Holdings in STERIS plc (NYSE:STE)

Copeland Capital Management LLC reduced its position in shares of STERIS plc (NYSE:STE) by 6.8% during the 4th quarter, HoldingsChannel reports. The firm owned 208,440 shares of the medical equipment provider’s stock after selling 15,130 shares during the period. Copeland Capital Management LLC’s holdings in STERIS were worth $42,847,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in STERIS during the 3rd quarter worth $25,000. Central Pacific Bank Trust Division bought a new stake in STERIS during the 3rd quarter valued at $28,000. Quarry LP bought a new stake in STERIS during the 3rd quarter valued at $67,000. Asset Dedication LLC boosted its position in STERIS by 54.8% during the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock valued at $71,000 after acquiring an additional 103 shares in the last quarter. Finally, R Squared Ltd bought a new stake in STERIS during the 4th quarter valued at $78,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Performance

NYSE STE opened at $220.84 on Friday. The stock has a 50-day simple moving average of $212.15 and a two-hundred day simple moving average of $224.73. The firm has a market capitalization of $21.80 billion, a P/E ratio of 50.42 and a beta of 0.84. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. On average, equities analysts forecast that STERIS plc will post 9.11 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. STERIS’s payout ratio is currently 52.05%.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on STE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. Finally, Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $262.50.

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.