Truist Financial Corp Sells 6,388 Shares of STERIS plc $STE

Key Points

• Truist Financial Corp reduced its stake in STERIS by 23.2% in the fourth quarter, selling 6,388 shares and leaving it with 21,093 shares valued at about $5.35 million.
• Several other institutional investors also adjusted their positions, and 94.69% of STERIS stock is owned by institutions, highlighting heavy institutional ownership.
• STERIS announced a quarterly dividend of $0.63 per share, payable June 26, which works out to an annualized dividend of $2.52 and a yield of about 1.2%.

Truist Financial Corp trimmed its stake in shares of STERIS plc (NYSE:STE - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,093 shares of the medical equipment provider's stock after selling 6,388 shares during the quarter. Truist Financial Corp's holdings in STERIS were worth $5,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. Trust Co. of Vermont grew its position in shares of STERIS by 30.2% in the 4th quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider's stock worth $42,000 after buying an additional 38 shares during the last quarter. Magnolia Capital Advisors LLC grew its position in shares of STERIS by 1.2% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 3,588 shares of the medical equipment provider's stock worth $888,000 after buying an additional 41 shares during the last quarter. Colonial Trust Co SC grew its position in shares of STERIS by 0.3% in the 3rd quarter. Colonial Trust Co SC now owns 12,329 shares of the medical equipment provider's stock worth $3,051,000 after buying an additional 42 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of STERIS by 34.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider's stock worth $42,000 after buying an additional 45 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of STERIS by 1.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,953 shares of the medical equipment provider's stock valued at $731,000 after purchasing an additional 46 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Cynthia L. Feldmann sold 3,098 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $237.21, for a total transaction of $734,876.58. Following the completion of the sale, the director directly owned 705 shares of the company's stock, valued at approximately $167,233.05. The trade was a 81.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of recent research reports. Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 26th. Weiss Ratings cut STERIS from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 16th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $275.20.

STERIS Stock Performance

NYSE:STE opened at $207.40 on Monday. The stock has a 50-day simple moving average of $224.30 and a two-hundred day simple moving average of $244.27. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 2.48. The firm has a market capitalization of $20.34 billion, a PE ratio of 28.93 and a beta of 0.95.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS's dividend payout ratio is presently 35.15%.

STERIS Profile

STERIS Corporation NYSE: STE is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.

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