Inspire Investing LLC Lowers Position in STERIS plc (NYSE:STE)

Inspire Investing LLC decreased its stake in shares of STERIS plc (NYSE:STE) by 18.4% in the second quarter, Holdings Channel reports. The institutional investor owned 10,727 shares of the medical equipment provider’s stock after selling 2,413 shares during the quarter. Inspire Investing LLC’s holdings in STERIS were worth $2,355,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. First Personal Financial Services bought a new stake in shares of STERIS in the 1st quarter worth $25,000. J.Safra Asset Management Corp grew its holdings in shares of 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 acquiring an additional 53 shares during the period. Quent Capital LLC grew its holdings in shares of STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares during the period. Headlands Technologies LLC bought a new stake in shares of STERIS in the first quarter worth $36,000. Finally, Pingora Partners LLC bought a new stake in shares of STERIS in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $260.00 price objective 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. StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Finally, KeyCorp lifted their target price on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Three equities 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.00.

STERIS Price Performance

NYSE:STE opened at $238.38 on Thursday. 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 company has a market capitalization of $23.51 billion, a P/E ratio of 62.40 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 business’s 50-day moving average is $235.52 and its 200 day moving average is $225.43.

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

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.57 per share. This is a boost from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is presently 59.69%.

Insiders Place Their Bets

In other news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction that occurred on 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 owns 582 shares of the company’s stock, valued at $139,493.76. The transaction was disclosed in a legal filing with the SEC, 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 stock was 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 of the company’s stock, valued at $139,493.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

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.