Park Avenue Securities LLC Sells 1,802 Shares of STERIS plc (NYSE:STE)

Park Avenue Securities LLC reduced its position in STERIS plc (NYSE:STE) by 44.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,243 shares of the medical equipment provider’s stock after selling 1,802 shares during the period. Park Avenue Securities LLC’s holdings in STERIS were worth $544,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. J.Safra Asset Management Corp lifted its stake 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 valued at $27,000 after buying an additional 53 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in STERIS in the 3rd quarter valued at about $28,000. Quent Capital LLC boosted its stake in STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 71 shares during the last quarter. Headlands Technologies LLC acquired a new position in STERIS during the 1st quarter valued at about $36,000. Finally, Versant Capital Management Inc increased its holdings in STERIS by 2,262.5% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

STE opened at $226.90 on Friday. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The firm has a 50-day moving average of $237.07 and a 200 day moving average of $225.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. The firm has a market cap of $22.43 billion, a P/E ratio of 59.40 and a beta of 0.84.

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, beating analysts’ consensus estimates of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 EPS. On average, research analysts expect that STERIS plc will post 9.06 EPS for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 1.00%. STERIS’s payout ratio is presently 59.69%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Christopher S. Holland sold 473 shares of STERIS 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 owns 582 shares in the company, valued at $139,493.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Christopher S. Holland sold 473 shares of the firm’s 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 completion of the transaction, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

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.