Allspring Global Investments Holdings LLC Sells 182 Shares of STERIS plc $STE

Allspring Global Investments Holdings LLC lowered its holdings in STERIS plc (NYSE:STE) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,255 shares of the medical equipment provider’s stock after selling 182 shares during the period. Allspring Global Investments Holdings LLC’s holdings in STERIS were worth $1,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in shares of STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of STERIS in the 1st quarter valued at approximately $37,000. Golden State Wealth Management LLC raised its position in shares of STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 166 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of STERIS in the 1st quarter valued at approximately $45,000. Finally, Wayfinding Financial LLC acquired a new position in shares of STERIS in the 1st quarter valued at approximately $46,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at STERIS

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the transaction, the director owned 705 shares in the company, valued at approximately $170,299.80. This represents a 83.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Karen L. Burton sold 7,900 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the transaction, the chief accounting officer owned 5,994 shares in the company, valued at approximately $1,448,929.62. The trade was a 56.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,868 shares of company stock valued at $4,585,389 over the last 90 days. Insiders own 1.07% of the company’s stock.

STERIS Trading Up 0.1%

NYSE:STE opened at $242.29 on Thursday. The firm’s fifty day moving average is $244.96 and its 200-day moving average is $236.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. STERIS plc has a 52 week low of $200.98 and a 52 week high of $253.00. The firm has a market cap of $23.86 billion, a P/E ratio of 37.10 and a beta of 1.01.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm posted $2.03 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were paid a dividend of $0.63 per share. This is a boost from STERIS’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, September 4th. STERIS’s payout ratio is currently 38.59%.

Analysts Set New Price Targets

Several brokerages have recently commented on STE. KeyCorp boosted their target price on shares of STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a research report on Tuesday, October 14th. Morgan Stanley upped their price objective on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, STERIS has an average rating of “Moderate Buy” and a consensus target price of $273.50.

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.