Kavar Capital Partners Group LLC Sells 1,379 Shares of STERIS plc (NYSE:STE)

Kavar Capital Partners Group LLC trimmed its position in STERIS plc (NYSE:STE) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,188 shares of the medical equipment provider’s stock after selling 1,379 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in STERIS were worth $4,802,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Avalon Trust Co acquired a new stake in shares of STERIS in the 4th quarter valued at approximately $30,000. Grove Bank & Trust boosted its position in STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 142 shares in the last quarter. Anfield Capital Management LLC boosted its position in STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 91 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of STERIS during the first quarter worth $43,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of STERIS by 503.0% during the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 166 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STE has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on STERIS in a research report on Thursday, May 29th. They set a “hold” rating and a $263.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Monday, April 7th. Stephens reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. JMP Securities lifted their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus target price of $263.83.

STERIS Price Performance

STERIS stock opened at $240.46 on Thursday. The stock’s 50 day moving average is $235.67 and its 200 day moving average is $223.81. STERIS plc has a one year low of $200.98 and a one year high of $252.79. The firm has a market cap of $23.65 billion, a P/E ratio of 38.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39.

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

STERIS Announces Dividend

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

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 12,828 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the sale, the chief executive officer now owns 51,385 shares in the company, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

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.