Skye Global Management LP Sells 23,200 Shares of STERIS plc (NYSE:STE)

Skye Global Management LP decreased its holdings in shares of STERIS plc (NYSE:STE) by 58.0% in the third quarter, HoldingsChannel reports. The firm owned 16,800 shares of the medical equipment provider’s stock after selling 23,200 shares during the quarter. STERIS makes up 0.1% of Skye Global Management LP’s investment portfolio, making the stock its 28th biggest position. Skye Global Management LP’s holdings in STERIS were worth $4,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in STERIS in the third quarter worth $25,000. Central Pacific Bank Trust Division purchased a new stake in shares of STERIS in the 3rd quarter worth about $28,000. Quent Capital LLC boosted its stake in shares of STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares in the last quarter. Versant Capital Management Inc increased its position in shares of STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after buying an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 0.7 %

NYSE STE opened at $217.47 on Friday. The stock’s fifty day moving average price is $225.36 and its 200-day moving average price is $228.43. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The stock has a market cap of $21.47 billion, a P/E ratio of 49.65 and a beta of 0.85. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. STERIS’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $2.03 EPS. As a group, equities analysts forecast that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.05%. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 35.21 % 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.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STE. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Finally, StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $253.00.

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.