PNC Financial Services Group Inc. Cuts Position in STERIS plc (NYSE:STE)

PNC Financial Services Group Inc. trimmed its holdings in shares of STERIS plc (NYSE:STE) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,281 shares of the medical equipment provider’s stock after selling 616 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STERIS were worth $8,856,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Greenleaf Trust boosted its stake in STERIS by 2.8% in the third quarter. Greenleaf Trust now owns 1,888 shares of the medical equipment provider’s stock valued at $414,000 after acquiring an additional 51 shares during the last quarter. Park Edge Advisors LLC grew its holdings in STERIS by 1.2% during the fourth quarter. Park Edge Advisors LLC now owns 4,409 shares of the medical equipment provider’s stock valued at $969,000 after purchasing an additional 51 shares during the period. UMB Bank n.a. increased its position in STERIS by 7.8% in the fourth quarter. UMB Bank n.a. now owns 716 shares of the medical equipment provider’s stock worth $157,000 after buying an additional 52 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of STERIS by 1.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,520 shares of the medical equipment provider’s stock valued at $774,000 after buying an additional 53 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its stake in shares of STERIS by 1.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,544 shares of the medical equipment provider’s stock valued at $779,000 after buying an additional 54 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Renato Tamaro sold 1,154 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total transaction of $267,312.56. Following the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at approximately $1,546,660.28. The disclosure for this sale can be found here. Insiders sold a total of 7,762 shares of company stock worth $1,798,477 in the last three months. Insiders own 0.95% of the company’s stock.

STERIS Price Performance

STE stock opened at $230.60 on Thursday. The firm has a 50-day moving average of $217.04 and a 200 day moving average of $217.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.06 and a quick ratio of 2.34. The company has a market cap of $22.79 billion, a P/E ratio of 60.37 and a beta of 0.81. STERIS plc has a 1 year low of $195.47 and a 1 year high of $254.00.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company earned $2.30 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that STERIS plc will post 9.12 EPS for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, June 12th. STERIS’s dividend payout ratio (DPR) is currently 54.45%.

Wall Street Analyst Weigh In

STE has been the topic of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $225.00 price target (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. TheStreet raised STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Finally, Stephens reaffirmed an “overweight” rating and set a $250.00 target price on shares of STERIS in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, STERIS currently has an average rating of “Moderate Buy” and a consensus target price of $241.60.

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.