California State Teachers Retirement System Reduces Stock Position in STERIS plc (NYSE:STE)

California State Teachers Retirement System cut its holdings in STERIS plc (NYSE:STE - Free Report) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,014 shares of the medical equipment provider's stock after selling 5,140 shares during the period. California State Teachers Retirement System owned 0.16% of STERIS worth $31,659,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new position in STERIS in the fourth quarter valued at approximately $30,000. Human Investing LLC acquired a new position in STERIS in the fourth quarter valued at approximately $31,000. Anfield Capital Management LLC lifted its holdings in STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock valued at $37,000 after acquiring an additional 91 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in STERIS by 182.7% in the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider's stock valued at $44,000 after acquiring an additional 137 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in STERIS by 66.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 88 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

STE has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Jefferies Financial Group assumed coverage on STERIS in a research report on Thursday. They issued a "hold" rating and a $263.00 target price on the stock. JMP Securities boosted their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Wall Street Zen lowered STERIS from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $263.83.

STERIS Stock Down 1.4%

Shares of STERIS stock traded down $3.34 during trading hours on Monday, reaching $241.87. 501,697 shares of the company were exchanged, compared to its average volume of 544,810. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The stock's fifty day moving average is $228.80 and its 200 day moving average is $221.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The firm has a market cap of $23.76 billion, a PE ratio of 51.35 and a beta of 0.96.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Tuesday, June 10th. STERIS's dividend payout ratio is currently 36.77%.

Insider Transactions at STERIS

In other news, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the sale, the senior vice president now owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company's stock.

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.