In a recent transaction on May 14, Steris plc's (NYSE:STE) Vice President & Chief Administrative Officer, Karen L. Burton, sold 3,000 shares of the company's stock at an average price of $235.95 per share, amounting to a total sale value of $707,850. This sale was disclosed in a legal filing with the Securities and Exchange Commission.
Following the transaction, Burton still owns 3,759 ordinary shares of Steris plc, which, according to the filing, include 2,457 restricted shares. These restricted shares are set to lapse in stages, with the first set becoming unrestricted on May 31, 2024.
Steris plc, a leader in infection prevention and other procedural products and services, has seen its shares traded on the New York Stock Exchange under the ticker symbol STE. The company specializes in orthopedic, prosthetic, and surgical appliances and supplies, providing essential products and services across the healthcare industry.
Investors and the market often monitor the buying and selling activities of company insiders as they may provide insights into the company's performance and strategic direction. The sale by a high-ranking executive such as Burton may attract attention from current and potential shareholders.
The transaction was signed off by Ronald E. Snyder, an authorized representative under Power of Attorney, and the details were made public on May 16, 2024, as per the SEC filing.
InvestingPro Insights
Amidst the insider trading activity by Steris plc's Vice President & Chief Administrative Officer, investors may find additional context through key financial metrics and analyst insights. According to InvestingPro, Steris plc boasts a perfect Piotroski Score of 9, suggesting a strong financial position. Moreover, the company has demonstrated a commitment to its shareholders by raising its dividend for 13 consecutive years, with the last dividend growth reported at 10.64%.
On the valuation front, Steris plc's market cap stands at $22.8 billion, with a Price/Earnings (P/E) ratio of 60.21. However, when adjusted for the last twelve months as of Q4 2024, the P/E ratio improves to 37.09, indicating a more favorable valuation relative to near-term earnings growth. Additionally, the company's Price to Book ratio for the same period is 3.62, which provides investors with a sense of the company's valuation in relation to its asset base.
For those considering an investment, Steris plc's stock has shown low price volatility, which might appeal to investors seeking stability. Furthermore, there are more InvestingPro Tips available that could offer deeper insights into the company's performance and potential. Interested readers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of financial information and expert analysis.
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