Wells Fargo & Company MN Reduces Stake in Steris PLC (STE)
Wells Fargo & Company MN cut its position in Steris PLC (NYSE:STE) by 31.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,036,571 shares of the medical equipment provider’s stock after selling 470,900 shares during the quarter. Wells Fargo & Company MN owned 1.22% of Steris worth $91,633,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of Steris by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 122,520 shares of the medical equipment provider’s stock worth $9,986,000 after purchasing an additional 1,963 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Steris during the 2nd quarter worth approximately $1,360,000. Prudential Financial Inc. boosted its stake in shares of Steris by 14.4% during the 3rd quarter. Prudential Financial Inc. now owns 192,686 shares of the medical equipment provider’s stock worth $17,034,000 after acquiring an additional 24,220 shares in the last quarter. GWM Advisors LLC boosted its stake in shares of Steris by 59.8% during the 2nd quarter. GWM Advisors LLC now owns 6,741 shares of the medical equipment provider’s stock worth $553,000 after acquiring an additional 2,522 shares in the last quarter. Finally, Shelton Capital Management purchased a new stake in Steris in the 2nd quarter valued at approximately $464,000. Hedge funds and other institutional investors own 89.45% of the company’s stock.
A number of research analysts have weighed in on the company. TD Securities increased their price target on Steris from C$14.00 to C$16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered Steris from a “buy” rating to a “sell” rating in a research note on Monday, November 6th. KeyCorp reissued an “overweight” rating and set a $101.00 price target (up previously from $91.00) on shares of Steris in a research note on Thursday, November 2nd. Finally, Raymond James Financial upped their price objective on Steris from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Steris has an average rating of “Buy” and a consensus target price of $79.50.
In other news, VP John Adam Zangerle sold 3,650 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $88.00, for a total transaction of $321,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael J. Tokich sold 11,000 shares of Steris stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $92.00, for a total transaction of $1,012,000.00. Following the completion of the transaction, the insider now owns 58,588 shares in the company, valued at approximately $5,390,096. The disclosure for this sale can be found here. Insiders sold a total of 192,722 shares of company stock valued at $16,913,753 in the last ninety days. Company insiders own 2.55% of the company’s stock.
Shares of Steris PLC (NYSE:STE) traded down $0.39 during mid-day trading on Wednesday, hitting $89.08. 239,200 shares of the stock traded hands, compared to its average volume of 459,775. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.48. Steris PLC has a twelve month low of $65.26 and a twelve month high of $93.39. The company has a market capitalization of $7,609.63, a PE ratio of 23.06 and a beta of 1.27.
Steris (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Steris had a net margin of 5.59% and a return on equity of 11.49%. The firm had revenue of $634.20 million during the quarter, compared to analyst estimates of $629.02 million. During the same quarter in the previous year, the business posted $0.89 EPS. Steris’s revenue for the quarter was down 1.9% compared to the same quarter last year. equities research analysts expect that Steris PLC will post 4.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 22nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.24 annualized dividend and a yield of 1.39%. Steris’s dividend payout ratio (DPR) is 73.81%.
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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