Lord Abbett & CO. LLC Sells 55,524 Shares of STERIS PLC (NYSE:STE)

Lord Abbett & CO. LLC lessened its stake in shares of STERIS PLC (NYSE:STE) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 723,834 shares of the medical equipment provider’s stock after selling 55,524 shares during the quarter. Lord Abbett & CO. LLC owned about 0.85% of STERIS PLC worth $58,992,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Citigroup Inc. purchased a new position in shares of STERIS PLC during the 2nd quarter worth $206,000. Van Cleef Asset Management Inc purchased a new position in shares of STERIS PLC in the 2nd quarter worth $208,000. Cigna Investments Inc. New purchased a new position in shares of STERIS PLC in the 2nd quarter worth $209,000. BT Investment Management Ltd purchased a new position in shares of STERIS PLC in the 2nd quarter worth $210,000. Finally, Allegis Investment Advisors LLC purchased a new position in shares of STERIS PLC in the 2nd quarter worth $251,000. Hedge funds and other institutional investors own 94.13% of the company’s stock.

Several brokerages recently issued reports on STE. Zacks Investment Research upgraded STERIS PLC from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Monday, October 9th. KeyCorp restated a “buy” rating and set a $91.00 target price on shares of STERIS PLC in a research note on Tuesday, October 17th. Raymond James Financial, Inc. raised their target price on STERIS PLC from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded STERIS PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. STERIS PLC has an average rating of “Buy” and an average price target of $90.75.

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In related news, insider Michael J. Tokich sold 11,000 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $92.00, for a total transaction of $1,012,000.00. Following the transaction, the insider now owns 58,588 shares in the company, valued at approximately $5,390,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $85.69, for a total transaction of $856,900.00. Following the transaction, the chief executive officer now owns 83,270 shares in the company, valued at approximately $7,135,406.30. The disclosure for this sale can be found here. Insiders have sold a total of 205,086 shares of company stock worth $17,965,621 in the last quarter. 2.55% of the stock is owned by corporate insiders.

Shares of STERIS PLC (STE) traded up 1.75% during trading on Friday, reaching $92.80. 386,330 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $88.76 and a 200-day moving average price of $82.06. The company has a market capitalization of $7.91 billion, a PE ratio of 66.38 and a beta of 1.29. STERIS PLC has a 52-week low of $63.80 and a 52-week high of $92.96.

STERIS PLC (NYSE:STE) last issued its quarterly earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. The firm had revenue of $608.00 million for the quarter, compared to the consensus estimate of $597.66 million. STERIS PLC had a net margin of 4.63% and a return on equity of 11.39%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. On average, equities analysts forecast that STERIS PLC will post $4.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Tuesday, August 29th were given a $0.31 dividend. The ex-dividend date was Friday, August 25th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from STERIS PLC’s previous quarterly dividend of $0.28. STERIS PLC’s payout ratio is 88.57%.

STERIS PLC Company Profile

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.

Institutional Ownership by Quarter for STERIS PLC (NYSE:STE)

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