Morgan Stanley reduced its holdings in Steris PLC (NYSE:STE) by 3.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 134,381 shares of the medical equipment provider’s stock after selling 4,149 shares during the period. Morgan Stanley’s holdings in Steris were worth $18,808,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Steris by 2.2% in the 1st quarter. BlackRock Inc. now owns 7,498,694 shares of the medical equipment provider’s stock worth $1,049,591,000 after acquiring an additional 161,410 shares during the period. WCM Investment Management LLC increased its holdings in shares of Steris by 116.7% in the 1st quarter. WCM Investment Management LLC now owns 5,079,325 shares of the medical equipment provider’s stock worth $710,953,000 after acquiring an additional 2,735,738 shares during the period. State Street Corp increased its holdings in shares of Steris by 2.3% in the 1st quarter. State Street Corp now owns 3,671,585 shares of the medical equipment provider’s stock worth $513,916,000 after acquiring an additional 83,765 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Steris by 4.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,031,164 shares of the medical equipment provider’s stock worth $284,303,000 after acquiring an additional 80,667 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Steris by 47.6% in the 4th quarter. Geode Capital Management LLC now owns 1,394,232 shares of the medical equipment provider’s stock worth $212,095,000 after acquiring an additional 449,941 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Mohsen Sohi sold 3,218 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $164.12, for a total transaction of $528,138.16. Following the transaction, the director now owns 25,579 shares of the company’s stock, valued at $4,198,025.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.
Steris (NYSE:STE) last released its earnings results on Wednesday, May 13th. The medical equipment provider reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.07. The firm had revenue of $822.99 million for the quarter, compared to analysts’ expectations of $788.37 million. Steris had a net margin of 13.45% and a return on equity of 16.34%. During the same quarter last year, the company earned $1.53 EPS. Research analysts expect that Steris PLC will post 5.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, June 11th. Steris’s dividend payout ratio (DPR) is presently 26.24%.
A number of research firms recently weighed in on STE. Zacks Investment Research raised shares of Steris from a “hold” rating to a “buy” rating and set a $174.00 price objective on the stock in a report on Friday, April 24th. Needham & Company LLC began coverage on shares of Steris in a report on Tuesday, June 9th. They issued a “hold” rating on the stock. Finally, Stephens increased their price objective on shares of Steris from $145.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $172.00.
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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