Norden Group LLC Decreases Position in STERIS plc (NYSE:STE)

Norden Group LLC trimmed its stake in STERIS plc (NYSE:STE) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,175 shares of the medical equipment provider’s stock after selling 152 shares during the period. Norden Group LLC’s holdings in STERIS were worth $1,136,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of STE. Taylor Frigon Capital Management LLC boosted its stake in STERIS by 0.8% during the second quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after buying an additional 46 shares during the period. Global Retirement Partners LLC boosted its stake in shares of STERIS by 9.4% during the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the medical equipment provider’s stock worth $128,000 after purchasing an additional 49 shares during the period. First Hawaiian Bank grew its holdings in STERIS by 0.4% during the 1st quarter. First Hawaiian Bank now owns 13,857 shares of the medical equipment provider’s stock valued at $3,115,000 after purchasing an additional 50 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in STERIS by 1.5% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,520 shares of the medical equipment provider’s stock worth $774,000 after purchasing an additional 53 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STE. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. KeyCorp lifted their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

STERIS Stock Performance

Shares of STERIS stock opened at $239.82 on Friday. STERIS plc has a 12 month low of $195.47 and a 12 month high of $245.81. The stock’s fifty day moving average price is $231.33 and its 200-day moving average price is $224.89. The firm has a market cap of $23.65 billion, a P/E ratio of 62.78 and a beta of 0.83. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts expect that STERIS plc will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, September 5th. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio (DPR) is 54.45%.

Insider Activity

In other STERIS news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the transaction, the director now directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.14% of the company’s stock.

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.