Mutual Advisors LLC Sells 183 Shares of STERIS plc $STE

Mutual Advisors LLC cut its stake in STERIS plc (NYSE:STE) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,320 shares of the medical equipment provider’s stock after selling 183 shares during the quarter. Mutual Advisors LLC’s holdings in STERIS were worth $535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Generali Asset Management SPA SGR boosted its stake in STERIS by 19.5% in the 2nd quarter. Generali Asset Management SPA SGR now owns 14,269 shares of the medical equipment provider’s stock worth $3,428,000 after purchasing an additional 2,331 shares during the period. Bayforest Capital Ltd lifted its holdings in shares of STERIS by 201.8% in the second quarter. Bayforest Capital Ltd now owns 1,705 shares of the medical equipment provider’s stock worth $410,000 after buying an additional 1,140 shares in the last quarter. Sagespring Wealth Partners LLC boosted its position in shares of STERIS by 1.2% in the second quarter. Sagespring Wealth Partners LLC now owns 5,319 shares of the medical equipment provider’s stock valued at $1,278,000 after acquiring an additional 64 shares during the period. Boston Trust Walden Corp grew its stake in STERIS by 26.4% during the second quarter. Boston Trust Walden Corp now owns 323,980 shares of the medical equipment provider’s stock valued at $77,826,000 after acquiring an additional 67,709 shares in the last quarter. Finally, NorthRock Partners LLC grew its stake in STERIS by 21.8% during the second quarter. NorthRock Partners LLC now owns 1,290 shares of the medical equipment provider’s stock valued at $310,000 after acquiring an additional 231 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Performance

NYSE:STE opened at $240.25 on Monday. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 36.79 and a beta of 1.01. The business has a 50 day moving average of $245.08 and a 200 day moving average of $236.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. STERIS plc has a 1-year low of $200.98 and a 1-year high of $253.00.

STERIS (NYSE:STE) last issued its quarterly earnings results 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 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 business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $2.03 earnings per share. On average, sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.63 dividend. This is a boost 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%.

Insider Buying and Selling at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the sale, the chief accounting officer directly owned 5,994 shares in the company, valued at $1,448,929.62. This represents a 56.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mohsen Sohi sold 4,110 shares of STERIS stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the completion of the transaction, the director owned 22,361 shares in the company, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,868 shares of company stock valued at $4,585,389. 1.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Morgan Stanley increased their price objective on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of STERIS in a research note on Tuesday, October 14th. Finally, KeyCorp upped their target price on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $273.50.

STERIS Company 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.