Steris PLC (STE) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC reduced its position in Steris PLC (NYSE:STE) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,055,850 shares of the medical equipment provider’s stock after selling 102,484 shares during the quarter. Steris comprises about 1.0% of Frontier Capital Management Co. LLC’s holdings, making the stock its 16th largest position. Frontier Capital Management Co. LLC’s holdings in Steris were worth $135,180,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of STE. Advisory Services Network LLC lifted its holdings in shares of Steris by 26.0% during the fourth quarter. Advisory Services Network LLC now owns 427 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 88 shares during the period. Bbva Compass Bancshares Inc. lifted its holdings in shares of Steris by 3.9% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 2,389 shares of the medical equipment provider’s stock worth $255,000 after purchasing an additional 89 shares during the period. State Treasurer State of Michigan lifted its holdings in shares of Steris by 0.3% during the first quarter. State Treasurer State of Michigan now owns 30,200 shares of the medical equipment provider’s stock worth $3,867,000 after purchasing an additional 100 shares during the period. Security Asset Management lifted its holdings in shares of Steris by 1.3% during the first quarter. Security Asset Management now owns 8,179 shares of the medical equipment provider’s stock worth $1,047,000 after purchasing an additional 104 shares during the period. Finally, Neuburgh Advisers LLC lifted its holdings in shares of Steris by 1.4% during the fourth quarter. Neuburgh Advisers LLC now owns 9,592 shares of the medical equipment provider’s stock worth $1,025,000 after purchasing an additional 132 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

NYSE:STE traded up $3.34 during trading hours on Thursday, hitting $134.76. The company’s stock had a trading volume of 6,835 shares, compared to its average volume of 426,131. Steris PLC has a 52-week low of $99.14 and a 52-week high of $134.99. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 27.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.99 and a current ratio of 2.56.

Steris (NYSE:STE) last announced its quarterly earnings results on Monday, May 13th. The medical equipment provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.09. Steris had a return on equity of 13.42% and a net margin of 10.93%. The business had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $738.87 million. During the same quarter last year, the business posted $1.24 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts predict that Steris PLC will post 5.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 12th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Tuesday, June 11th. Steris’s dividend payout ratio is presently 27.81%.

In related news, CEO Walter M. Rosebrough, Jr. sold 50,000 shares of Steris stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $125.00, for a total transaction of $6,250,000.00. Following the completion of the sale, the chief executive officer now owns 98,895 shares in the company, valued at approximately $12,361,875. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cynthia L. Feldmann sold 2,037 shares of Steris stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $122.51, for a total value of $249,552.87. Following the sale, the director now owns 10,700 shares of the company’s stock, valued at approximately $1,310,857. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,646 shares of company stock valued at $6,939,093. 2.38% of the stock is currently owned by company insiders.

STE has been the subject of several recent research reports. Zacks Investment Research raised Steris from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a report on Tuesday, April 30th. Stephens reaffirmed a “buy” rating and set a $135.00 price target on shares of Steris in a report on Thursday, February 14th. JMP Securities reaffirmed a “buy” rating and set a $135.00 price target on shares of Steris in a report on Thursday, February 14th. Finally, KeyCorp increased their price target on Steris from $135.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating, Steris presently has a consensus rating of “Buy” and a consensus target price of $145.20.

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Steris Profile

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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Institutional Ownership by Quarter for Steris (NYSE:STE)

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