In a recent transaction, Renato Tamaro, the Vice President and Corporate Treasurer of Steris plc (NYSE:STE), sold 1,154 ordinary shares of the company at an average price of $231.64, netting a total of over $267,312. The sale took place on May 16, 2024, as disclosed in a regulatory filing with the Securities and Exchange Commission.
The transaction was part of a series of trades that included both the acquisition and disposition of shares by the executive. On the same day, Tamaro also acquired the same number of shares, 1,154, at a price of $114.22 each, amounting to a total of $131,809. These shares were purchased through the exercise of options as part of the company's employee stock option plan.
Following these transactions, Tamaro's direct ownership in Steris plc ordinary shares has been adjusted to 6,677 shares. Notably, some of these shares are restricted, with the restrictions set to lapse on various dates ranging from May 31, 2024, to June 2, 2026. The restrictions pertain to a total of 2,791 shares, with specific amounts becoming unrestricted on each of the aforementioned dates.
The regulatory filing also mentioned that the options exercised by Tamaro were originally granted in connection with Steris's redomiciliation to Ireland in March 2019. These options were exchanged for an equivalent number of options in the prior structure of the company, known as "Old STERIS," and carry the same terms and conditions.
Investors and market watchers often monitor insider transactions such as these for insights into executive sentiment regarding their company's stock. Shares of Steris plc are publicly traded on the New York Stock Exchange under the ticker symbol STE.
InvestingPro Insights
As market participants analyze the recent insider transactions of Steris plc (NYSE:STE), it's essential to consider the broader financial context in which these trades occur. According to InvestingPro data, Steris plc boasts a market capitalization of $23.02 billion, reflecting its substantial presence in the industry. The company's P/E ratio stands at 60.7, which may seem elevated, but it's important to note that the adjusted P/E ratio for the last twelve months as of Q4 2024 is more moderate at 37.36. This suggests a potential realignment of earnings expectations in the near term.
One of the notable InvestingPro Tips for Steris plc is its perfect Piotroski Score of 9, indicating strong financial health and operational efficiency. Additionally, the company has a history of rewarding its shareholders, having raised its dividend for 13 consecutive years—a testament to its commitment to consistent returns. These factors may be particularly attractive to value-oriented investors seeking stable dividend growth.
With a dividend yield of 0.89% as of the latest data, Steris plc may appeal to income-focused portfolios. The company's stock has experienced a strong return over the last month, with a 16.63% increase, which could signal positive momentum. For those interested in a deeper dive into Steris plc's financials and further InvestingPro Tips, such as the company's low price volatility and analysts' profitability predictions for this year, a visit to Investing.com's Pro platform is recommended. There, users can find a comprehensive list of additional tips to inform their investment decisions. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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