Daniel A. Carestio Sells 17,626 Shares of STERIS plc (NYSE:STE) Stock

STERIS plc (NYSE:STE - Get Free Report) CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the sale, the chief executive officer now directly owns 51,385 shares in the company, valued at $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

STERIS Price Performance

NYSE STE traded up $0.13 during trading hours on Friday, reaching $243.71. The company's stock had a trading volume of 590,537 shares, compared to its average volume of 547,726. The firm has a market capitalization of $23.97 billion, a price-to-earnings ratio of 51.74 and a beta of 0.94. The company's 50-day moving average is $229.88 and its two-hundred day moving average is $221.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. 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 announced its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company posted $2.58 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio is presently 36.77%.

Hedge Funds Weigh In On STERIS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its stake in shares of STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Avalon Trust Co purchased a new position in STERIS in the 4th quarter valued at about $30,000. Grove Bank & Trust boosted its holdings in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares during the last quarter. Human Investing LLC purchased a new stake in STERIS during the 4th quarter worth approximately $31,000. Finally, Zions Bancorporation National Association UT purchased a new stake in STERIS during the 1st quarter worth approximately $37,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STE. Wall Street Zen lowered STERIS from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Morgan Stanley upped their price objective on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Stephens reaffirmed an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. Finally, Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $263.83.

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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