Financial Advocates Investment Management Sells 184 Shares of STERIS plc (NYSE:STE)

Financial Advocates Investment Management decreased its stake in STERIS plc (NYSE:STE) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,335 shares of the medical equipment provider’s stock after selling 184 shares during the period. Financial Advocates Investment Management’s holdings in STERIS were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in STERIS in the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division boosted its holdings in shares of STERIS by 65.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 76 shares during the last quarter. Quarry LP bought a new position in shares of STERIS in the third quarter valued at $67,000. Asset Dedication LLC increased its holdings in STERIS by 54.8% during the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after buying an additional 103 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in STERIS in the fourth quarter valued at $78,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and set a $240.00 price objective on shares of STERIS in a research note on Thursday. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Piper Sandler increased their price objective on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.14% of the company’s stock.

STERIS Stock Performance

STE opened at $223.13 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.55. The business has a fifty day simple moving average of $212.57 and a 200 day simple moving average of $224.51. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The company has a market capitalization of $22.03 billion, a PE ratio of 47.37 and a beta of 0.84.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. Research analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. STERIS’s payout ratio is 48.41%.

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.