STERIS plc (NYSE:STE) Shares Sold by Wahed Invest LLC

Wahed Invest LLC lowered its position in STERIS plc (NYSE:STE) by 89.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,930 shares of the medical equipment provider’s stock after selling 16,441 shares during the period. Wahed Invest LLC’s holdings in STERIS were worth $434,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of STE. Norges Bank acquired a new position in shares of STERIS in the fourth quarter worth about $220,954,000. Impax Asset Management Group plc raised its position in shares of STERIS by 419.1% during the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after purchasing an additional 779,038 shares during the last quarter. APG Asset Management US Inc. acquired a new position in shares of STERIS during the 4th quarter worth about $74,963,000. Sustainable Growth Advisers LP raised its position in shares of STERIS by 23.5% during the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after purchasing an additional 282,387 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of STERIS by 71.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock worth $132,763,000 after purchasing an additional 252,200 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

STE has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Friday, July 26th. Piper Sandler restated a “neutral” rating and set a $225.00 price target (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $241.60.

Insider Transactions at STERIS

In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was 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 $2,639,085.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,762 shares of company stock worth $1,798,477. 1.14% of the stock is currently owned by insiders.

STERIS Price Performance

NYSE STE traded up $1.59 during trading hours on Friday, hitting $242.60. 536,301 shares of the company’s stock traded hands, compared to its average volume of 482,699. STERIS plc has a 52-week low of $195.47 and a 52-week high of $242.91. The company has a market capitalization of $23.98 billion, a PE ratio of 63.09 and a beta of 0.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.08 and a quick ratio of 2.36. The firm’s 50-day moving average is $223.88 and its 200-day moving average is $222.27.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $2.30 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts forecast that STERIS plc will post 9.25 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be issued a $0.57 dividend. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, September 5th. STERIS’s dividend payout ratio is currently 54.45%.

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.