STERIS plc (NYSE:STE) Stake Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of STERIS plc (NYSE:STE) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,335,505 shares of the medical equipment provider’s stock after selling 107,300 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of STERIS worth $1,536,613,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Citizens Financial Group Inc. RI acquired a new position in shares of STERIS during the third quarter valued at approximately $223,000. Hilton Capital Management LLC acquired a new position in STERIS during the third quarter worth about $1,598,000. Segall Bryant & Hamill LLC raised its position in STERIS by 5.6% in the third quarter. Segall Bryant & Hamill LLC now owns 103,547 shares of the medical equipment provider’s stock worth $25,114,000 after acquiring an additional 5,506 shares in the last quarter. Premier Fund Managers Ltd boosted its position in shares of STERIS by 15.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 230,000 shares of the medical equipment provider’s stock valued at $54,967,000 after purchasing an additional 30,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of STERIS by 0.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 37,931 shares of the medical equipment provider’s stock worth $9,200,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Trading Up 0.1 %

Shares of STERIS stock opened at $212.25 on Thursday. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. The firm has a market capitalization of $20.95 billion, a PE ratio of 48.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The company’s fifty day moving average price is $229.10 and its two-hundred day moving average price is $228.69.

STERIS (NYSE:STE) last announced its quarterly earnings results 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 firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. On average, analysts expect that STERIS plc will post 9.15 EPS for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s payout ratio is presently 52.05%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STE shares. KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $253.00.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.14% of the stock is owned by company insiders.

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.