STERIS plc $STE Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of STERIS plc (NYSE:STE) by 14.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,662 shares of the medical equipment provider’s stock after selling 9,029 shares during the quarter. Russell Investments Group Ltd.’s holdings in STERIS were worth $12,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Sector Pension Investment Board raised its stake in shares of STERIS by 7.5% in the 1st quarter. Public Sector Pension Investment Board now owns 13,428 shares of the medical equipment provider’s stock valued at $3,043,000 after acquiring an additional 940 shares during the period. Nuveen LLC purchased a new stake in STERIS in the first quarter valued at approximately $65,435,000. Strengthening Families & Communities LLC lifted its stake in STERIS by 1.9% during the first quarter. Strengthening Families & Communities LLC now owns 11,764 shares of the medical equipment provider’s stock worth $2,663,000 after purchasing an additional 224 shares in the last quarter. Fiduciary Family Office LLC purchased a new position in shares of STERIS during the first quarter worth $645,000. Finally, Benjamin Edwards Inc. boosted its position in shares of STERIS by 17.5% during the first quarter. Benjamin Edwards Inc. now owns 135,003 shares of the medical equipment provider’s stock worth $30,599,000 after buying an additional 20,142 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of STE opened at $245.51 on Monday. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The stock has a market capitalization of $24.18 billion, a PE ratio of 37.60 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The stock has a 50-day simple moving average of $234.34 and a 200-day simple moving average of $229.67.

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

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, September 4th. This is an increase from STERIS’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. STERIS’s payout ratio is presently 34.92%.

Analysts Set New Price Targets

STE has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, August 8th. JMP Securities boosted their price target on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Jefferies Financial Group assumed coverage on shares of STERIS in a report on Thursday, May 29th. They issued a “hold” rating and a $263.00 price objective for the company. Finally, Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $273.50.

Insider Activity

In other news, SVP Cary L. Majors sold 12,828 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president directly owned 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction dated 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 transaction, the director owned 705 shares in the company, valued at approximately $170,299.80. The trade was a 83.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,959 shares of company stock valued at $11,231,764. Insiders own 1.07% 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.