Cynthia L. Feldmann Sells 3,495 Shares of STERIS plc (NYSE:STE) Stock

Key Points

• Cynthia L. Feldmann, Director of STERIS plc, sold 3,495 shares of the company's stock for a total of $844,252.20, resulting in an 83.21% decrease in her ownership.
• STERIS reported earnings of $2.34 per share for the last quarter, exceeding expectations and reflecting an 8.8% increase in revenue year-over-year.
• The company announced an increase in its quarterly dividend from $0.57 to $0.63 per share, with a yield of 1.0%, set to be paid on September 26th to shareholders of record on September 4th.

STERIS plc (NYSE:STE - Get Free Report) Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.56, for a total value of $844,252.20. Following the completion of the sale, the director owned 705 shares of the company's stock, valued at approximately $170,299.80. This represents a 83.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

STERIS Stock Performance

STE stock traded up $2.10 during midday trading on Tuesday, hitting $243.72. 341,082 shares of the stock traded hands, compared to its average volume of 723,378. The firm has a market cap of $24.00 billion, a P/E ratio of 37.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The stock's fifty day simple moving average is $234.13 and its 200-day simple moving average is $229.09. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company's revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.03 earnings per share. On average, analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. STERIS's payout ratio is 34.92%.

Analysts Set New Price Targets

STE has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday. Stephens reaffirmed an "overweight" rating and set a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Citigroup reissued an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Finally, Jefferies Financial Group started coverage on shares of STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and an average price target of $273.50.

Hedge Funds Weigh In On STERIS

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of STERIS by 1.7% in the second quarter. Vanguard Group Inc. now owns 12,163,128 shares of the medical equipment provider's stock worth $2,921,827,000 after buying an additional 205,276 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of STERIS by 9.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after buying an additional 452,146 shares in the last quarter. Generation Investment Management LLP lifted its stake in shares of STERIS by 5.4% in the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock worth $760,308,000 after buying an additional 170,392 shares in the last quarter. Select Equity Group L.P. lifted its stake in shares of STERIS by 165.3% in the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after buying an additional 1,619,796 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of STERIS by 1.9% in the second quarter. Geode Capital Management LLC now owns 2,479,108 shares of the medical equipment provider's stock worth $592,980,000 after buying an additional 46,859 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.

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