Steris PLC (NYSE:STE) Short Interest Down 5.3% in July
Steris PLC (NYSE:STE) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,932,600 shares, a decline of 5.3% from the June 15th total of 2,039,900 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily volume of 567,900 shares, the days-to-cover ratio is presently 3.4 days.
A number of equities research analysts recently issued reports on STE shares. JMP Securities boosted their target price on shares of Steris from $135.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, May 22nd. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. KeyCorp lifted their price target on shares of Steris from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Stephens reaffirmed a “hold” rating and set a $17.00 price target on shares of Capstar Financial in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $148.20.
Shares of STE stock opened at $150.34 on Tuesday. The firm has a market capitalization of $12.64 billion, a PE ratio of 30.74 and a beta of 1.00. The company has a current ratio of 2.27, a quick ratio of 1.82 and a debt-to-equity ratio of 0.37. Steris has a fifty-two week low of $99.14 and a fifty-two week high of $154.09. The firm’s 50 day simple moving average is $147.15.
In related news, insider Kathleen Bardwell sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $147.07, for a total value of $1,029,490.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Tokich sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $143.70, for a total transaction of $3,161,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 244,145 shares of company stock valued at $33,121,338. 2.36% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of STE. Norges Bank acquired a new position in shares of Steris during the fourth quarter worth $96,648,000. William Blair Investment Management LLC acquired a new position in shares of Steris during the first quarter worth $102,859,000. AJO LP lifted its position in shares of Steris by 4,952.8% during the first quarter. AJO LP now owns 504,922 shares of the medical equipment provider’s stock worth $64,645,000 after purchasing an additional 494,929 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Steris by 15,298.7% during the second quarter. Thoroughbred Financial Services LLC now owns 471,354 shares of the medical equipment provider’s stock worth $47,135,000 after purchasing an additional 468,293 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new position in shares of Steris during the first quarter worth $17,528,000. 83.98% of the stock is currently owned by institutional investors and hedge funds.
STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
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