Truist Financial Corp Reduces Stock Position in STERIS plc $STE

Truist Financial Corp lessened its position in shares of STERIS plc (NYSE:STE) by 23.2% during the 4th quarter, Holdings Channel reports. The firm owned 21,093 shares of the medical equipment provider’s stock after selling 6,388 shares during the quarter. Truist Financial Corp’s holdings in STERIS were worth $5,348,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in STE. AQR Capital Management LLC lifted its holdings in shares of STERIS by 178.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock valued at $291,704,000 after buying an additional 758,423 shares during the period. Boston Partners acquired a new position in shares of STERIS in the 3rd quarter valued at about $158,982,000. Orbis Allan Gray Ltd lifted its holdings in shares of STERIS by 36.0% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock valued at $504,486,000 after buying an additional 556,088 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of STERIS by 246.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 553,834 shares of the medical equipment provider’s stock valued at $137,041,000 after buying an additional 393,970 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of STERIS by 16.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,238 shares of the medical equipment provider’s stock valued at $387,797,000 after buying an additional 221,199 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Activity at STERIS

In other STERIS news, Director Cynthia L. Feldmann sold 3,098 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $237.21, for a total transaction of $734,876.58. Following the completion of the transaction, the director owned 705 shares of the company’s stock, valued at $167,233.05. This represents a 81.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STE has been the subject of several analyst reports. Weiss Ratings cut STERIS from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 26th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and a consensus price target of $275.20.

STERIS Stock Performance

NYSE STE opened at $207.40 on Monday. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 28.93 and a beta of 0.95. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The company has a current ratio of 2.48, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $224.30 and a 200 day moving average of $244.27.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.52 dividend on an annualized basis and a yield of 1.2%. STERIS’s dividend payout ratio is presently 35.15%.

About STERIS

STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.