The Manufacturers Life Insurance Company Sells 7,443 Shares of STERIS plc (NYSE:STE)

The Manufacturers Life Insurance Company cut its holdings in shares of STERIS plc (NYSE:STEFree Report) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,133 shares of the medical equipment provider’s stock after selling 7,443 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of STERIS worth $14,759,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STE. Fenimore Asset Management Inc. boosted its holdings in STERIS by 13.1% in the 4th quarter. Fenimore Asset Management Inc. now owns 210,747 shares of the medical equipment provider’s stock valued at $46,333,000 after purchasing an additional 24,377 shares during the period. Cullen Investment Group LTD. bought a new stake in shares of STERIS in the fourth quarter valued at about $1,351,000. Cerity Partners LLC grew its position in STERIS by 5,199.4% during the fourth quarter. Cerity Partners LLC now owns 65,925 shares of the medical equipment provider’s stock worth $14,494,000 after buying an additional 64,681 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its stake in STERIS by 12.9% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 45,095 shares of the medical equipment provider’s stock valued at $9,914,000 after acquiring an additional 5,168 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in STERIS by 4.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 976,402 shares of the medical equipment provider’s stock valued at $208,491,000 after acquiring an additional 44,781 shares in the last quarter. 94.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STE has been the topic of several recent research reports. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Thursday, May 9th. Piper Sandler restated a “neutral” rating and issued a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.60.

Check Out Our Latest Report on STERIS

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now owns 11,369 shares in the company, valued at approximately $2,639,085.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Cary L. Majors sold 2,024 shares of STERIS stock in a transaction on Monday, May 13th. The shares were sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The disclosure for this sale can be found here. Insiders have sold a total of 7,762 shares of company stock worth $1,798,477 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.

STERIS Price Performance

NYSE:STE opened at $226.85 on Monday. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. The firm has a market cap of $22.44 billion, a PE ratio of 59.38 and a beta of 0.85. STERIS plc has a 12 month low of $195.47 and a 12 month high of $254.00. The company’s 50-day moving average price is $216.92 and its two-hundred day moving average price is $219.28.

STERIS (NYSE:STEGet Free Report) last announced its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $2.30 EPS. STERIS’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that STERIS plc will post 9.24 EPS for the current fiscal year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, June 12th. This represents a $2.08 annualized dividend and a yield of 0.92%. STERIS’s dividend payout ratio (DPR) is 54.45%.

About STERIS

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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