Handelsbanken Fonder AB Has $13.47 Million Stake in STERIS plc (NYSE:STE)

Handelsbanken Fonder AB decreased its position in shares of STERIS plc (NYSE:STE) by 6.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 59,416 shares of the medical equipment provider’s stock after selling 4,066 shares during the period. Handelsbanken Fonder AB’s holdings in STERIS were worth $13,467,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Select Equity Group L.P. increased its holdings in shares of STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider’s stock worth $534,400,000 after buying an additional 1,619,796 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of STERIS by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider’s stock worth $483,775,000 after buying an additional 56,123 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of STERIS by 15.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider’s stock worth $257,585,000 after buying an additional 172,795 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of STERIS by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock worth $250,130,000 after buying an additional 378,252 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of STERIS by 7.4% during the fourth quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider’s stock worth $249,352,000 after buying an additional 83,601 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

Shares of STE stock opened at $240.70 on Thursday. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The stock has a market cap of $23.68 billion, a PE ratio of 51.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The firm’s 50 day moving average price is $231.51 and its two-hundred day moving average price is $222.33.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm earned $2.58 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. STERIS’s payout ratio is presently 36.77%.

Analyst Upgrades and Downgrades

STE has been the subject of several recent analyst reports. JMP Securities raised their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a report on Friday, May 16th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 30th. Stephens reissued an “overweight” rating and set a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Finally, Jefferies Financial Group assumed coverage on shares of STERIS in a research note on Thursday, May 29th. They set a “hold” rating and a $263.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $263.83.

Insider Buying and Selling at STERIS

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the sale, the chief executive officer now directly owns 51,385 shares in the company, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president now owns 11,372 shares in the company, valued at approximately $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

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.