Texas Permanent School Fund Corp Sells 4,080 Shares of STERIS plc (NYSE:STE)

Texas Permanent School Fund Corp lessened its holdings in STERIS plc (NYSE:STE) by 20.0% during the second quarter, Holdings Channel.com reports. The firm owned 16,346 shares of the medical equipment provider’s stock after selling 4,080 shares during the quarter. Texas Permanent School Fund Corp’s holdings in STERIS were worth $3,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of STERIS by 8.3% during the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after buying an additional 4,494 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in STERIS by 3.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after purchasing an additional 3,342 shares during the period. Caden Capital Partners LP grew its holdings in shares of STERIS by 80.0% in the fourth quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock worth $18,096,000 after acquiring an additional 36,576 shares during the period. Diversify Advisory Services LLC purchased a new position in STERIS in the first quarter worth about $903,000. Finally, Perpetual Ltd increased its position in shares of STERIS by 9.3% during the 1st quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock valued at $9,121,000 after purchasing an additional 3,437 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

STE stock opened at $244.83 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The stock has a market cap of $24.15 billion, a PE ratio of 64.09 and a beta of 0.83. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24. The company has a 50-day moving average price of $234.02 and a 200 day moving average price of $225.24.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $2.00 earnings per share. Equities research analysts anticipate that STERIS plc will post 9.05 earnings per share for the current year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.57 per share. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.93%. STERIS’s dividend payout ratio is presently 59.69%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STE. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. KeyCorp increased 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. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $246.00.

Insider Transactions at STERIS

In related news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the transaction, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Christopher S. Holland sold 473 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the transaction, the director now owns 582 shares in the company, valued at approximately $139,493.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The disclosure for this sale can be found here. Corporate insiders own 1.14% 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.