Carderock Capital Management Inc. Sells 2,666 Shares of STERIS plc (NYSE:STE)

Carderock Capital Management Inc. lowered its position in STERIS plc (NYSE:STE) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,922 shares of the medical equipment provider’s stock after selling 2,666 shares during the period. Carderock Capital Management Inc.’s holdings in STERIS were worth $5,534,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in STE. Ashton Thomas Securities LLC acquired a new position in shares of STERIS in the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division bought a new stake in STERIS in the 3rd quarter valued at $28,000. Brown Brothers Harriman & Co. boosted its stake in STERIS by 154.7% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 116 shares during the period. Quarry LP bought a new position in STERIS during the 3rd quarter worth about $67,000. Finally, Asset Dedication LLC increased its holdings in STERIS by 54.8% during the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction dated 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 owns 11,372 shares in the company, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is currently owned by corporate insiders.

STERIS Trading Down 0.3 %

Shares of STERIS stock opened at $209.50 on Friday. The stock has a market cap of $20.68 billion, a P/E ratio of 47.83 and a beta of 0.84. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24. The business’s 50 day moving average is $212.04 and its 200-day moving average is $224.72.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, November 19th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Tuesday, November 19th. STERIS’s payout ratio is currently 52.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STE. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Stephens reiterated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Monday, November 18th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, STERIS presently has a consensus rating of “Moderate Buy” and an average target price of $262.50.

STERIS 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.