STERIS plc (NYSE:STE) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC cut its holdings in STERIS plc (NYSE:STE) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,591 shares of the medical equipment provider’s stock after selling 64 shares during the quarter. Portside Wealth Group LLC’s holdings in STERIS were worth $569,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in 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 acquiring an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of STERIS by 3.2% during 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 purchasing an additional 3,342 shares during the period. Caden Capital Partners LP grew its position in STERIS by 80.0% in the 4th quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock valued at $18,096,000 after buying an additional 36,576 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in STERIS in the 1st quarter valued at $903,000. Finally, Perpetual Ltd raised its position in STERIS by 9.3% during the 1st quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock worth $9,121,000 after buying an additional 3,437 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STE traded up $2.02 on Friday, reaching $232.34. The stock had a trading volume of 558,749 shares, compared to its average volume of 464,844. STERIS plc has a twelve month low of $195.47 and a twelve month high of $243.37. The firm has a market capitalization of $22.91 billion, a PE ratio of 60.82 and a beta of 0.83. The firm has a 50-day moving average of $225.81 and a 200 day moving average of $223.56. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. STERIS’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 earnings per share. Sell-side analysts expect that STERIS plc will post 9.17 EPS for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be given a dividend of $0.57 per share. This is an increase from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is currently 54.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on STE shares. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Stephens restated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, STERIS presently has an average rating of “Moderate Buy” and an average price target of $243.60.

Insider Activity at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.14% of the stock is owned by corporate insiders.

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.