STERIS plc $STE Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in shares of STERIS plc (NYSE:STE) by 20.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,131 shares of the medical equipment provider’s stock after selling 540 shares during the period. Park Avenue Securities LLC’s holdings in STERIS were worth $512,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 104 shares during the period. Grove Bank & Trust boosted its holdings in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 142 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of STERIS in the 1st quarter valued at about $37,000. ORG Wealth Partners LLC bought a new stake in STERIS in the 1st quarter valued at about $43,000. Finally, Golden State Wealth Management LLC lifted its position in STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 166 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on STE. KeyCorp boosted their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Finally, Morgan Stanley lifted their price objective on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $273.50.

Insider Buying and Selling at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the sale, the chief accounting officer directly owned 5,994 shares of the company’s stock, valued at $1,448,929.62. The trade was a 56.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Renato Tamaro sold 3,204 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was 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 owned 7,221 shares of the company’s stock, valued at $1,799,762.04. The trade was a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,709 shares of company stock valued at $4,546,940. 1.07% of the stock is currently owned by insiders.

STERIS Stock Performance

Shares of STE opened at $245.37 on Tuesday. The company’s 50 day moving average price is $241.76 and its 200 day moving average price is $234.89. STERIS plc has a 52 week low of $200.98 and a 52 week high of $253.00. The company has a market capitalization of $24.17 billion, a PE ratio of 37.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 earnings per share. Research analysts expect 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. Shareholders of record on Thursday, September 4th were given a $0.63 dividend. This is a positive change from STERIS’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, September 4th. STERIS’s payout ratio is presently 38.59%.

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.