Penobscot Investment Management Company Inc. Has $1.20 Million Stock Position in STERIS plc (NYSE:STE)

Penobscot Investment Management Company Inc. decreased its stake in STERIS plc (NYSE:STE) by 20.3% during the 1st quarter, HoldingsChannel reports. The fund owned 5,305 shares of the medical equipment provider’s stock after selling 1,352 shares during the period. Penobscot Investment Management Company Inc.’s holdings in STERIS were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new stake in STERIS during the first quarter worth $978,000. Sequoia Financial Advisors LLC boosted its stake in STERIS by 10.3% during the first quarter. Sequoia Financial Advisors LLC now owns 20,758 shares of the medical equipment provider’s stock worth $4,705,000 after buying an additional 1,932 shares in the last quarter. Phillips Wealth Planners LLC boosted its stake in STERIS by 15.0% during the first quarter. Phillips Wealth Planners LLC now owns 2,898 shares of the medical equipment provider’s stock worth $641,000 after buying an additional 379 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in 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. Finally, Slocum Gordon & Co LLP acquired a new stake in STERIS during the first quarter worth $57,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Down 0.7%

Shares of NYSE STE opened at $238.57 on Friday. The stock has a market cap of $23.47 billion, a PE ratio of 38.48 and a beta of 0.94. The business has a fifty day moving average of $235.67 and a two-hundred day moving average of $223.81. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96.

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

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. STERIS’s dividend payout ratio is 36.77%.

Wall Street Analysts Forecast Growth

STE has been the topic of a number of recent research reports. JMP Securities lifted their price target on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Morgan Stanley lifted their price objective on STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Monday, April 7th. Stephens reissued an “overweight” rating and set a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Finally, Citigroup reissued an “outperform” rating on shares of STERIS in a report on Friday, May 16th. Three equities 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 stock. According to data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and a consensus target price of $263.83.

Insider Activity at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer now directly owns 51,385 shares of the company’s stock, valued at $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $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. 1.07% of the stock is currently owned by company insiders.

STERIS 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.