STERIS plc (NYSE:STE) Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of STERIS plc (NYSE:STE) by 58.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,678 shares of the medical equipment provider’s stock after selling 6,688 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in STERIS were worth $1,135,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. J.Safra Asset Management Corp boosted its stake in STERIS by 77.9% during the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in STERIS during the third quarter worth about $28,000. Quent Capital LLC raised its position in STERIS by 112.7% in the first 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. Headlands Technologies LLC acquired a new stake in STERIS in the 1st quarter valued at about $36,000. Finally, Versant Capital Management Inc boosted its position in shares of STERIS by 2,262.5% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the transaction, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Stephens reiterated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. KeyCorp boosted their price objective on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, STERIS currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Price Performance

Shares of STE opened at $221.80 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. The firm has a market cap of $21.87 billion, a PE ratio of 55.69 and a beta of 0.84. The firm’s 50 day moving average price is $234.18 and its 200 day moving average price is $226.71. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the company posted $2.00 earnings per share. STERIS’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts expect that STERIS plc will post 9.06 EPS for the current fiscal year.

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.