STERIS plc (NYSE:STE) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its stake in STERIS plc (NYSE:STE) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,287 shares of the medical equipment provider’s stock after selling 47 shares during the quarter. Ritholtz Wealth Management’s holdings in STERIS were worth $555,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in STE. Russell Investments Group Ltd. boosted its holdings in STERIS by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after acquiring an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of 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 valued at $23,909,000 after purchasing an additional 3,342 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of STERIS during the 1st quarter worth about $903,000. Perpetual Ltd grew its holdings 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 worth $9,121,000 after purchasing an additional 3,437 shares during the period. Finally, Artemis Investment Management LLP increased its position in STERIS by 21.0% during the 1st quarter. Artemis Investment Management LLP now owns 179,837 shares of the medical equipment provider’s stock worth $40,410,000 after purchasing an additional 31,162 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

STERIS stock opened at $226.70 on Wednesday. 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 50 day moving average of $236.31 and a 200-day moving average of $225.91. The stock has a market cap of $22.41 billion, a P/E ratio of 59.35 and a beta of 0.84. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24.

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 company 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 EPS. On average, analysts expect that STERIS plc will post 9.06 EPS for the current fiscal year.

STERIS Increases Dividend

The business 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. This is an increase from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, September 5th. STERIS’s payout ratio is presently 59.69%.

Analyst Ratings Changes

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

Insider Activity

In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other STERIS 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 sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their position. 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.