Vanguard Group Inc. Lowers Stock Position in STERIS plc (NYSE:STE)

Vanguard Group Inc. reduced its position in shares of STERIS plc (NYSE:STE) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,839,652 shares of the medical equipment provider’s stock after selling 24,954 shares during the period. Vanguard Group Inc. owned 0.12% of STERIS worth $2,661,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of STERIS by 3.4% in the fourth quarter. Nordea Investment Management AB now owns 6,301 shares of the medical equipment provider’s stock valued at $1,388,000 after acquiring an additional 206 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of STERIS by 15.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 1,311 shares of the medical equipment provider’s stock valued at $283,000 after purchasing an additional 173 shares during the last quarter. SG Americas Securities LLC increased its position in shares of STERIS by 55.4% during the 4th quarter. SG Americas Securities LLC now owns 6,347 shares of the medical equipment provider’s stock valued at $1,395,000 after purchasing an additional 2,262 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of STERIS by 16.0% in the 4th quarter. Mutual Advisors LLC now owns 1,116 shares of the medical equipment provider’s stock worth $245,000 after buying an additional 154 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. boosted its holdings in shares of STERIS by 12.9% in the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 45,095 shares of the medical equipment provider’s stock worth $9,914,000 after buying an additional 5,168 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of NYSE:STE traded down $1.16 during midday trading on Friday, reaching $224.29. 386,940 shares of the company traded hands, compared to its average volume of 438,422. The firm’s fifty day moving average price is $223.53 and its two-hundred day moving average price is $221.40. The firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of 58.71 and a beta of 0.83. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. STERIS plc has a 12 month low of $195.47 and a 12 month high of $254.00.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.30 earnings per share. On average, equities analysts expect that STERIS plc will post 9.24 earnings per share for the current year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.93%. STERIS’s dividend payout ratio (DPR) is currently 54.45%.

Insider Transactions at STERIS

In related news, VP Renato Tamaro sold 1,154 shares of STERIS stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $231.64, for a total transaction of $267,312.56. Following the completion of the sale, the vice president now owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Cary L. Majors sold 2,024 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the sale, the senior vice president now owns 11,369 shares in the company, valued at approximately $2,639,085.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $231.64, for a total transaction of $267,312.56. Following the completion of the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,762 shares of company stock valued at $1,798,477. 1.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STE has been the topic of several research reports. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, STERIS currently has a consensus rating of “Moderate Buy” and an average price target of $241.60.

About STERIS

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.