Diversify Advisory Services LLC Reduces Stake in STERIS plc (NYSE:STE)

Diversify Advisory Services LLC cut its holdings in shares of STERIS plc (NYSE:STE) by 46.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,202 shares of the medical equipment provider’s stock after selling 1,883 shares during the quarter. Diversify Advisory Services LLC’s holdings in STERIS were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of STERIS by 8.3% during the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after purchasing an additional 4,494 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of STERIS by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after acquiring an additional 3,342 shares during the period. Caden Capital Partners LP boosted its stake in shares of STERIS by 80.0% during the 4th quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock worth $18,096,000 after acquiring an additional 36,576 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in STERIS in the fourth quarter valued at approximately $1,351,000. Finally, Cerity Partners LLC increased its holdings in STERIS by 5,199.4% in the 4th quarter. Cerity Partners LLC now owns 65,925 shares of the medical equipment provider’s stock worth $14,494,000 after acquiring an additional 64,681 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Trading Down 1.5 %

Shares of NYSE STE traded down $3.70 during midday trading on Friday, reaching $235.98. 427,048 shares of the stock were exchanged, compared to its average volume of 488,756. The company has a 50 day simple moving average of $225.43 and a 200 day simple moving average of $223.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. The stock has a market capitalization of $23.33 billion, a P/E ratio of 61.77 and a beta of 0.83. STERIS plc has a twelve month low of $195.47 and a twelve month high of $243.37.

STERIS (NYSE:STE) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. STERIS had a return on equity of 13.89% and a net margin of 7.36%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm posted $2.00 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, equities analysts expect that STERIS plc will post 9.16 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is 59.69%.

Insider Buying and Selling

In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of STERIS stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of STERIS stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 2,024 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the transaction, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The disclosure for this sale can be found here. Insiders have sold a total of 7,762 shares of company stock valued at $1,798,477 in the last ninety days. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STE. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Wednesday. JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday. Piper Sandler restated a “neutral” rating and issued a $225.00 price objective (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. Finally, StockNews.com cut STERIS from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $243.60.

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.