Oppenheimer Asset Management Inc. Sells 183 Shares of STERIS plc (NYSE:STE)

Oppenheimer Asset Management Inc. cut its stake in STERIS plc (NYSE:STE) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,890 shares of the medical equipment provider’s stock after selling 183 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in STERIS were worth $2,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in STE. First Personal Financial Services purchased a new position in shares of STERIS in the first quarter worth approximately $25,000. Quent Capital LLC boosted its holdings in shares of 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 buying an additional 71 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of STERIS in the fourth quarter worth approximately $34,000. Pingora Partners LLC purchased a new position in shares of STERIS in the fourth quarter worth approximately $37,000. Finally, Glassman Wealth Services purchased a new position in shares of STERIS in the fourth quarter worth approximately $38,000. 94.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at STERIS

In other news, VP Renato Tamaro sold 1,154 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total transaction of $267,312.56. Following the completion of the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Cary L. Majors sold 2,024 shares of the company’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 directly owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $231.64, for a total transaction of $267,312.56. Following the completion of the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The disclosure for this sale can be found here. Insiders have sold 7,762 shares of company stock worth $1,798,477 over the last quarter. Insiders own 1.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on STE. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, May 9th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and an average target price of $241.60.

STERIS Price Performance

STE traded up $3.88 during trading hours on Friday, hitting $221.72. The company’s stock had a trading volume of 371,999 shares, compared to its average volume of 477,889. The business’s 50-day moving average price is $222.80 and its 200-day moving average price is $221.23. STERIS plc has a 12 month low of $195.47 and a 12 month high of $254.00. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 58.04 and a beta of 0.83. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $2.30 earnings per share. STERIS’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts expect that STERIS plc will post 9.24 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, June 12th. STERIS’s dividend payout ratio (DPR) is 54.45%.

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.