Mutual of America Capital Management LLC Sells 318 Shares of STERIS plc (NYSE:STE)

Mutual of America Capital Management LLC lessened its position in STERIS plc (NYSE:STE) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,171 shares of the medical equipment provider’s stock after selling 318 shares during the period. Mutual of America Capital Management LLC’s holdings in STERIS were worth $2,952,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bleakley Financial Group LLC increased its holdings in STERIS by 8.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock valued at $407,000 after purchasing an additional 134 shares during the period. Assetmark Inc. increased its stake in shares of STERIS by 24.6% during the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock valued at $3,252,000 after buying an additional 2,647 shares during the period. BDF Gestion bought a new position in shares of STERIS during the second quarter valued at approximately $2,644,000. KBC Group NV lifted its stake in STERIS by 52.0% in the third quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock worth $2,928,000 after acquiring an additional 4,132 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in STERIS by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after acquiring an additional 120,616 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

STE has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Price Performance

STE stock opened at $214.34 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 48.94 and a beta of 0.85. The firm has a 50 day moving average price of $227.28 and a 200-day moving average price of $228.52. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24.

STERIS (NYSE:STE) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that STERIS plc will post 9.15 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.06%. STERIS’s dividend payout ratio is currently 52.05%.

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.