Steris Plc (STE) Shares Sold by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan lessened its position in shares of Steris Plc (NYSE:STE) by 21.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,690 shares of the medical equipment provider’s stock after selling 7,090 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Steris Plc were worth $2,271,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Dividend Assets Capital LLC boosted its holdings in shares of Steris Plc by 13.2% during the third quarter. Dividend Assets Capital LLC now owns 225,365 shares of the medical equipment provider’s stock worth $19,922,000 after acquiring an additional 26,290 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Steris Plc by 3.4% during the third quarter. Bessemer Group Inc. now owns 1,387,199 shares of the medical equipment provider’s stock worth $122,630,000 after acquiring an additional 45,198 shares during the period. Swiss National Bank boosted its holdings in shares of Steris Plc by 0.6% during the third quarter. Swiss National Bank now owns 142,255 shares of the medical equipment provider’s stock worth $12,575,000 after acquiring an additional 800 shares during the period. DE Burlo Group Inc. bought a new stake in shares of Steris Plc during the third quarter worth approximately $539,000. Finally, Keybank National Association OH bought a new stake in shares of Steris Plc during the third quarter worth approximately $554,000. Institutional investors own 93.50% of the company’s stock.
In related news, insider Michael J. Tokich sold 12,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $89.75, for a total value of $1,077,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $85.69, for a total transaction of $856,900.00. Following the completion of the sale, the chief executive officer now directly owns 83,270 shares in the company, valued at approximately $7,135,406.30. The disclosure for this sale can be found here. Insiders have sold 199,072 shares of company stock valued at $17,449,453 over the last quarter. Company insiders own 2.55% of the company’s stock.
A number of research firms have recently weighed in on STE. BidaskClub downgraded shares of Steris Plc from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. lifted their price target on shares of Steris Plc from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Steris Plc from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. KeyCorp reiterated a “buy” rating and issued a $91.00 price target on shares of Steris Plc in a research report on Tuesday, October 17th. Finally, TD Securities lifted their price target on shares of Steris Plc from C$14.00 to C$16.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $77.80.
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Shares of Steris Plc (NYSE STE) traded up $0.68 on Tuesday, reaching $87.53. 353,300 shares of the company’s stock traded hands, compared to its average volume of 474,481. Steris Plc has a 1-year low of $64.37 and a 1-year high of $93.39. The firm has a market capitalization of $7,386.80, a P/E ratio of 22.38 and a beta of 1.31. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.48.
Steris Plc (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Steris Plc had a net margin of 5.59% and a return on equity of 11.49%. The firm had revenue of $634.20 million for the quarter, compared to analyst estimates of $629.02 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. equities analysts expect that Steris Plc will post 4.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.24 annualized dividend and a dividend yield of 1.42%. Steris Plc’s dividend payout ratio (DPR) is presently 73.81%.
Steris Plc Company Profile
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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