Courier Capital LLC Trims Stake in STERIS plc (NYSE:STE)

Courier Capital LLC reduced its position in shares of STERIS plc (NYSE:STE) by 25.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329 shares of the medical equipment provider’s stock after selling 445 shares during the period. Courier Capital LLC’s holdings in STERIS were worth $292,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Personal Financial Services purchased a new position in STERIS in the first quarter worth $25,000. J.Safra Asset Management Corp grew its position in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 53 shares in the last quarter. Quent Capital LLC grew its position in STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in STERIS in the fourth quarter worth $34,000. Finally, Headlands Technologies LLC purchased a new position in STERIS in the first quarter worth $36,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other STERIS news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of 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 is accessible through this link. 1.14% of the stock is currently owned by company insiders.

STERIS Trading Down 0.0 %

Shares of NYSE:STE traded down $0.11 during midday trading on Thursday, hitting $234.27. 142,199 shares of the stock traded hands, compared to its average volume of 481,523. The stock has a market capitalization of $23.10 billion, a PE ratio of 61.33 and a beta of 0.83. The business’s 50 day moving average is $226.32 and its two-hundred day moving average is $223.85. 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 plc has a one year low of $195.47 and a one year high of $243.37.

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

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders 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 is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a yield of 0.97%. STERIS’s dividend payout ratio (DPR) is 54.45%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price (up from $220.00) on shares of STERIS in a research report on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Finally, Stephens restated an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.60.

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.