STERIS (NYSE:STE) Stock: Insider Mohsen Sohi Sells 4,893 Shares

STERIS plc (NYSE:STE) Director Mohsen Sohi sold 4,893 shares of the firm’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $253.22, for a total value of $1,239,005.46. Following the completion of the sale, the director directly owned 24,305 shares of the company’s stock, valued at approximately $6,154,512.10. This trade represents a 16.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

STERIS Price Performance

Shares of STE stock traded down $2.77 during midday trading on Thursday, reaching $253.50. 503,989 shares of the company traded hands, compared to its average volume of 773,021. The firm’s 50 day simple moving average is $222.09 and its two-hundred day simple moving average is $224.66. The firm has a market cap of $24.62 billion, a PE ratio of 30.07 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 1.44. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. STERIS had a return on equity of 14.80% and a net margin of 13.41%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $2.47 earnings per share. On average, equities research analysts expect that STERIS plc will post 11.46 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 17th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, November 17th. STERIS’s dividend payout ratio (DPR) is 32.74%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. lifted its stake in shares of STERIS by 28.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 144,857 shares of the medical equipment provider’s stock worth $30,428,000 after purchasing an additional 31,789 shares during the period. First Trust Advisors LP grew its position in shares of STERIS by 2.7% in the third quarter. First Trust Advisors LP now owns 251,561 shares of the medical equipment provider’s stock valued at $52,830,000 after purchasing an additional 6,530 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of STERIS in the third quarter valued at $820,000. Private Wealth Asset Management LLC acquired a new position in STERIS in the third quarter valued at $234,000. Finally, Private Advisor Group LLC acquired a new position in STERIS in the third quarter valued at $212,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings raised shares of STERIS from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. KeyCorp raised their price objective on shares of STERIS from $269.00 to $284.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Piper Sandler restated an “overweight” rating and set a $275.00 price objective (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. UBS Group reduced their target price on STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $276.33.

About STERIS

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures. The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.