Marks Group Wealth Management Inc Sells 360 Shares of STERIS plc $STE

Marks Group Wealth Management Inc lowered its stake in shares of STERIS plc (NYSE:STE) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,837 shares of the medical equipment provider’s stock after selling 360 shares during the period. Marks Group Wealth Management Inc’s holdings in STERIS were worth $8,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Running Oak Capital LLC lifted its stake in STERIS by 2.5% during the 2nd quarter. Running Oak Capital LLC now owns 68,115 shares of the medical equipment provider’s stock valued at $16,363,000 after acquiring an additional 1,656 shares during the period. AMF Tjanstepension AB bought a new position in STERIS during the 2nd quarter valued at about $16,587,000. 111 Capital bought a new position in STERIS during the 2nd quarter valued at about $1,237,000. QRG Capital Management Inc. lifted its stake in shares of STERIS by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 2,959 shares of the medical equipment provider’s stock worth $711,000 after purchasing an additional 127 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of STERIS in the 2nd quarter worth approximately $215,000. Institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 0.1%

STERIS stock opened at $242.54 on Monday. The firm has a 50 day moving average of $243.08 and a 200 day moving average of $235.36. The firm has a market capitalization of $23.89 billion, a price-to-earnings ratio of 37.14 and a beta of 1.01. STERIS plc has a 12-month low of $200.98 and a 12-month high of $253.00. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

STERIS (NYSE:STE) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. As a group, research analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.52 annualized dividend and a yield of 1.0%. This is a positive change from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is currently 38.59%.

Insider Activity

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the completion of the sale, the director directly owned 705 shares of the company’s stock, valued at approximately $170,299.80. This represents a 83.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mohsen Sohi sold 4,110 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the sale, the director directly owned 22,361 shares of the company’s stock, valued at approximately $5,410,467.56. This trade represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,709 shares of company stock valued at $4,546,940. 1.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of STERIS in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Morgan Stanley increased their price objective on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, KeyCorp increased their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $273.50.

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.