STERIS plc (NYSE:STE) Stock Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in STERIS plc (NYSE:STE) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,129,579 shares of the medical equipment provider’s stock after purchasing an additional 9,936 shares during the period. Principal Financial Group Inc. owned about 1.15% of STERIS worth $256,019,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in shares of STERIS by 122.5% during the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider’s stock valued at $642,000 after purchasing an additional 1,559 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in STERIS by 23.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider’s stock valued at $273,000 after buying an additional 230 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of STERIS by 503.0% in 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 during the last quarter. GAMMA Investing LLC boosted its stake in shares of STERIS by 58.2% during the 1st quarter. GAMMA Investing LLC now owns 1,810 shares of the medical equipment provider’s stock worth $410,000 after acquiring an additional 666 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of STERIS by 16.8% during the 1st quarter. Fifth Third Bancorp now owns 2,893 shares of the medical equipment provider’s stock worth $656,000 after acquiring an additional 416 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of NYSE:STE opened at $237.55 on Friday. The firm has a market capitalization of $23.37 billion, a PE ratio of 38.31 and a beta of 0.92. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The business’s 50 day moving average is $237.61 and its 200-day moving average is $224.87.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share 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 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 0.96%. STERIS’s dividend payout ratio (DPR) is presently 36.77%.

Analysts Set New Price Targets

Several brokerages recently commented on STE. Morgan Stanley lifted their target price on shares of STERIS from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. JMP Securities increased their target price on STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research note on Friday, May 16th. Stephens reaffirmed an “overweight” rating and issued a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. Citigroup reiterated an “outperform” rating on shares of STERIS in a report on Friday, May 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.83.

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president directly owned 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the business’s stock in a transaction 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 owned 51,385 shares in the company, valued at $12,463,945.60. This represents a 25.54% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is owned by 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.