Apollon Wealth Management LLC Decreases Stake in STERIS plc (NYSE:STE)

Apollon Wealth Management LLC lowered its position in STERIS plc (NYSE:STE) by 10.5% during the fourth quarter, HoldingsChannel reports. The firm owned 2,492 shares of the medical equipment provider’s stock after selling 291 shares during the period. Apollon Wealth Management LLC’s holdings in STERIS were worth $512,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of STERIS during the 3rd quarter worth about $25,000. Central Pacific Bank Trust Division grew its position in shares of STERIS by 65.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 76 shares in the last quarter. Quarry LP acquired a new position in shares of STERIS during the third quarter worth about $67,000. Asset Dedication LLC grew its position in shares of STERIS by 54.8% during the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after buying an additional 103 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of STERIS during the fourth quarter worth about $78,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $240.00 target price on shares of STERIS in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research note on Thursday, February 6th. Finally, StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and an average target price of $258.75.

STERIS Price Performance

Shares of NYSE STE opened at $219.32 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24. The stock has a 50 day moving average of $212.84 and a two-hundred day moving average of $224.33. The stock has a market cap of $21.55 billion, a P/E ratio of 46.56 and a beta of 0.84.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. On average, research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, February 20th. STERIS’s dividend payout ratio is currently 48.41%.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.14% of the stock is owned by company insiders.

STERIS Profile

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.