Envestnet Portfolio Solutions Inc. Has $2.11 Million Position in STERIS plc $STE

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of STERIS plc (NYSE:STE) by 8.1% during the second quarter, HoldingsChannel reports. The firm owned 8,782 shares of the medical equipment provider’s stock after selling 777 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in STERIS were worth $2,110,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of STE. Orbis Allan Gray Ltd acquired a new stake in shares of STERIS during the first quarter worth about $349,950,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in STERIS by 55.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider’s stock valued at $344,617,000 after buying an additional 540,999 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in STERIS by 9.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider’s stock valued at $1,232,828,000 after buying an additional 452,146 shares during the last quarter. Nuveen LLC acquired a new stake in STERIS in the 1st quarter valued at approximately $65,435,000. Finally, Generation Investment Management LLP raised its position in STERIS by 5.4% in the 1st quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider’s stock valued at $760,308,000 after buying an additional 170,392 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Up 1.5%

STE stock opened at $240.42 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $245.14 and a two-hundred day moving average price of $236.17. The company has a market cap of $23.68 billion, a price-to-earnings ratio of 36.82 and a beta of 1.01. STERIS plc has a twelve month low of $200.98 and a twelve month high of $253.00.

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

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. This is an increase from STERIS’s previous quarterly dividend of $0.57. STERIS’s dividend payout ratio is presently 38.59%.

Insider Activity at STERIS

In other news, CEO Daniel A. Carestio sold 159 shares of STERIS stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the transaction, the chief executive officer directly owned 51,096 shares in the company, valued at approximately $12,356,034.72. The trade was a 0.31% decrease in their position. The sale 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 STERIS stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the transaction, the director owned 22,361 shares of the company’s stock, valued at $5,410,467.56. This represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,868 shares of company stock worth $4,585,389 in the last three months. 1.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on STE shares. Weiss Ratings reissued a “buy (b)” rating on shares of STERIS in a research report on Tuesday. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. KeyCorp lifted their target price on STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold 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 $273.50.

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.