Verition Fund Management LLC Reduces Position in STERIS plc (NYSE:STE)

Verition Fund Management LLC decreased its position in STERIS plc (NYSE:STE) by 29.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,372 shares of the medical equipment provider’s stock after selling 980 shares during the period. Verition Fund Management LLC’s holdings in STERIS were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of STERIS by 3.9% during the second quarter. CWM LLC now owns 2,291 shares of the medical equipment provider’s stock worth $503,000 after purchasing an additional 85 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in STERIS by 12.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,801 shares of the medical equipment provider’s stock valued at $1,274,000 after acquiring an additional 661 shares during the period. ORG Partners LLC purchased a new stake in shares of STERIS in the 2nd quarter valued at $76,000. Westside Investment Management Inc. increased its stake in shares of STERIS by 3.8% in the second quarter. Westside Investment Management Inc. now owns 3,510 shares of the medical equipment provider’s stock worth $771,000 after acquiring an additional 128 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. raised its holdings in shares of STERIS by 15.3% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,862 shares of the medical equipment provider’s stock worth $1,946,000 after purchasing an additional 1,177 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.7 %

Shares of STE opened at $214.22 on Wednesday. The firm has a market cap of $21.15 billion, a P/E ratio of 48.91 and a beta of 0.83. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The stock’s 50 day moving average is $221.97 and its two-hundred day moving average is $227.55. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33.

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

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.06%. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Insider Activity at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on STE shares. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. KeyCorp lifted their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Stephens restated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, STERIS presently has an average rating of “Moderate Buy” and an average price target of $262.50.

About STERIS

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.