Norden Group LLC Lowers Stock Holdings in STERIS plc $STE

Norden Group LLC lowered its position in shares of STERIS plc (NYSE:STE) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,329 shares of the medical equipment provider’s stock after selling 127 shares during the period. Norden Group LLC’s holdings in STERIS were worth $559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. lifted its position in STERIS by 122.5% during the first quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider’s stock valued at $642,000 after purchasing an additional 1,559 shares during the last quarter. Foresight Group Ltd Liability Partnership purchased a new stake in STERIS during the first quarter valued at about $25,958,000. Allianz Asset Management GmbH lifted its stake in STERIS by 31.9% during the first quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider’s stock worth $23,229,000 after purchasing an additional 24,809 shares during the last quarter. Ascent Group LLC bought a new stake in STERIS during the first quarter worth about $261,000. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of STERIS by 23.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider’s stock worth $273,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

STE opened at $244.37 on Friday. 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 market capitalization of $24.07 billion, a PE ratio of 37.42 and a beta of 0.95. The stock’s 50 day moving average price is $240.84 and its 200-day moving average price is $234.46. STERIS plc has a 52-week low of $200.98 and a 52-week high of $253.00.

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

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.63 per share. This is a positive change 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%. The ex-dividend date of this dividend is Thursday, September 4th. STERIS’s payout ratio is 38.59%.

Insider Activity

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of the sale, the vice president directly owned 7,221 shares in the company, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cynthia L. Feldmann sold 3,495 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.56, for a total transaction of $844,252.20. Following the completion of the transaction, the director owned 705 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 83.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,709 shares of company stock valued at $4,546,940. Company insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

STE has been the topic of several research reports. KeyCorp lifted their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Morgan Stanley lifted their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a “hold” rating and a $263.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, STERIS has an average rating of “Moderate Buy” and a consensus target price of $273.50.

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.