Steph & Co. Lowers Stock Position in STERIS plc (NYSE:STE)

Steph & Co. cut its holdings in STERIS plc (NYSE:STE) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 860 shares of the medical equipment provider’s stock after selling 65 shares during the quarter. Steph & Co.’s holdings in STERIS were worth $195,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Berry Wealth Group LP grew its holdings in STERIS by 6.2% in the first quarter. Berry Wealth Group LP now owns 1,188 shares of the medical equipment provider’s stock worth $269,000 after purchasing an additional 69 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of STERIS by 2.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 99,798 shares of the medical equipment provider’s stock worth $22,581,000 after buying an additional 2,500 shares during the last quarter. GHP Investment Advisors Inc. increased its position in STERIS by 3.7% during the 1st quarter. GHP Investment Advisors Inc. now owns 61,484 shares of the medical equipment provider’s stock valued at $13,935,000 after buying an additional 2,186 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in STERIS by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider’s stock valued at $2,029,000 after buying an additional 431 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in STERIS in the first quarter worth $650,000. 94.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the sale, the chief executive officer now directly owns 51,385 shares in the company, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the sale, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

STERIS Stock Up 1.2%

STE opened at $239.72 on Wednesday. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $235.26 and a 200-day moving average price of $223.69. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 38.67 and a beta of 0.94.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.15. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. Equities research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.95%. STERIS’s payout ratio is 36.77%.

Analysts Set New Price Targets

STE has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on STERIS in a report on Thursday, May 29th. They set a “hold” rating and a $263.00 price target for the company. JMP Securities raised their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research note on Friday, May 16th. Citigroup reiterated an “outperform” rating on shares of STERIS in a research note on Friday, May 16th. Morgan Stanley raised their price target on shares of STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $263.83.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.