STERIS plc (NYSE:STE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in STERIS plc (NYSE:STE) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,437 shares of the medical equipment provider’s stock after selling 48 shares during the period. Allspring Global Investments Holdings LLC’s holdings in STERIS were worth $1,002,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. QRG Capital Management Inc. raised its stake in STERIS by 122.5% in the first quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider’s stock valued at $642,000 after buying an additional 1,559 shares in the last quarter. Golden State Wealth Management LLC raised its stake in STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 166 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in STERIS by 23.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider’s stock valued at $273,000 after buying an additional 230 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in STERIS by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider’s stock valued at $2,029,000 after buying an additional 431 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in STERIS by 58.2% in the first quarter. GAMMA Investing LLC now owns 1,810 shares of the medical equipment provider’s stock valued at $410,000 after buying an additional 666 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STE has been the topic of a number of analyst reports. Stephens restated an “overweight” rating and issued a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Jefferies Financial Group started coverage on STERIS in a research report on Thursday, May 29th. They set a “hold” rating and a $263.00 target price on the stock. Citigroup reiterated an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Finally, JMP Securities lifted their target price on STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus target price of $263.83.

STERIS Stock Performance

Shares of STE stock opened at $232.67 on Wednesday. The stock has a market capitalization of $22.89 billion, a PE ratio of 37.53 and a beta of 0.92. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The stock’s 50-day moving average price is $238.19 and its 200 day moving average price is $225.56. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research 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 was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, June 10th. STERIS’s dividend payout ratio is presently 36.77%.

Insider Buying and Selling

In other news, SVP Cary L. Majors sold 12,828 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president owned 11,372 shares of the company’s stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the sale, the chief executive officer directly owned 51,385 shares in the company, valued at $12,463,945.60. This trade represents a 25.54% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

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.