MML Investors Services LLC Sells 1,152 Shares of STERIS plc (NYSE:STE)

MML Investors Services LLC lowered its position in STERIS plc (NYSE:STE) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,239 shares of the medical equipment provider’s stock after selling 1,152 shares during the period. MML Investors Services LLC’s holdings in STERIS were worth $3,211,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in STE. Ashton Thomas Securities LLC bought a new position in STERIS during the 3rd quarter worth about $25,000. Central Pacific Bank Trust Division bought a new position in STERIS during the 3rd quarter worth about $28,000. Brown Brothers Harriman & Co. increased its holdings in STERIS by 154.7% during 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 in the last quarter. Isthmus Partners LLC bought a new position in shares of STERIS in the 2nd quarter valued at about $44,000. Finally, American National Bank bought a new position in shares of STERIS in the 2nd quarter valued at about $53,000. Institutional investors own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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

STERIS Trading Down 1.0 %

Shares of STE stock opened at $214.22 on Friday. The firm has a 50 day moving average price of $220.80 and a two-hundred day moving average price of $227.27. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.15 billion, a PE 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.

STERIS (NYSE:STE) last announced 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 net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $2.03 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that STERIS plc will post 9.1 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be paid a $0.57 dividend. The ex-dividend date 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 (DPR) is 52.05%.

Insider Activity 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. 1.14% of the stock is currently owned by insiders.

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.