Brown Advisory Inc. Sells 27,667 Shares of STERIS plc (NYSE:STE)

Brown Advisory Inc. lowered its holdings in shares of STERIS plc (NYSE:STE) by 93.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,940 shares of the medical equipment provider’s stock after selling 27,667 shares during the period. Brown Advisory Inc.’s holdings in STERIS were worth $440,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in STE. Select Equity Group L.P. lifted its position in shares of STERIS by 165.3% in the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider’s stock worth $534,400,000 after purchasing an additional 1,619,796 shares during the period. Norges Bank purchased a new stake in shares of STERIS in the 4th quarter worth about $238,836,000. GAMMA Investing LLC lifted its position in shares of STERIS by 35,759.9% in the 1st quarter. GAMMA Investing LLC now owns 410,237 shares of the medical equipment provider’s stock worth $92,980,000 after purchasing an additional 409,093 shares during the period. Franklin Resources Inc. lifted its position in shares of STERIS by 45.1% in the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock worth $250,130,000 after purchasing an additional 378,252 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of STERIS by 4,534.6% in the 4th quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider’s stock worth $45,024,000 after purchasing an additional 214,306 shares during the period. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Up 1.3%

Shares of STERIS stock opened at $228.79 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The stock has a market capitalization of $22.51 billion, a PE ratio of 36.90 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 company has a 50-day simple moving average of $238.71 and a two-hundred day simple moving average of $226.27.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. STERIS’s dividend payout ratio is presently 36.77%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Citigroup reiterated an “outperform” rating on shares of STERIS in a research note on Friday, May 16th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Morgan Stanley upgraded shares of STERIS from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $260.00 to $276.00 in a research note on Tuesday. Finally, Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.50.

Insider Buying and Selling

In other news, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 51,385 shares in the company, valued at $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Cary L. Majors sold 12,828 shares of STERIS 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 completion of the sale, the senior vice president owned 11,372 shares of the company’s stock, valued at $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

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.