State of Alaska Department of Revenue Reduces Position in STERIS plc (NYSE:STE)

State of Alaska Department of Revenue lessened its holdings in shares of STERIS plc (NYSE:STE) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,255 shares of the medical equipment provider’s stock after selling 200 shares during the period. State of Alaska Department of Revenue’s holdings in STERIS were worth $2,313,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of STERIS during the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division boosted its holdings in shares of STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 76 shares during the period. Quarry LP purchased a new stake in shares of STERIS in the third quarter valued at approximately $67,000. Asset Dedication LLC boosted its holdings in shares of STERIS by 54.8% in the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock valued at $71,000 after purchasing an additional 103 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of STERIS in the fourth quarter valued at approximately $78,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STE stock opened at $224.16 on Tuesday. The business’s fifty day simple moving average is $212.57 and its 200-day simple moving average is $224.46. The company has a market cap of $22.13 billion, a PE ratio of 47.59 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. Analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, February 20th. STERIS’s payout ratio is 48.41%.

Insider Activity at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.14% of the stock is owned by insiders.

Analysts Set New Price Targets

STE has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research note on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. Piper Sandler boosted their price objective on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS 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.