Ballentine Partners LLC Invests $267,000 in STERIS plc (NYSE:STE)

Ballentine Partners LLC bought a new position in shares of STERIS plc (NYSE:STE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,180 shares of the medical equipment provider's stock, valued at approximately $267,000.

A number of other hedge funds also recently modified their holdings of the stock. Grove Bank & Trust increased its position in STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after acquiring an additional 142 shares during the period. ORG Wealth Partners LLC bought a new position in STERIS during the first quarter worth about $43,000. Golden State Wealth Management LLC increased its position in STERIS by 503.0% during the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 166 shares during the period. Wayfinding Financial LLC bought a new position in STERIS during the first quarter worth about $46,000. Finally, Brown Brothers Harriman & Co. increased its position in STERIS by 66.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Wall Street Analyst Weigh In

STE has been the topic of a number of recent research reports. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Morgan Stanley raised shares of STERIS from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $260.00 to $276.00 in a report on Tuesday. JMP Securities raised their target price on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a report on Monday, April 7th. Finally, Jefferies Financial Group started coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.50.

Insider Activity at STERIS

In related news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the sale, the senior vice president directly owned 11,372 shares in the company, valued at $2,843,909.76. This trade represents a 53.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the sale, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

STERIS Price Performance

Shares of STERIS stock traded down $3.34 during midday trading on Thursday, hitting $224.28. 1,076,141 shares of the company traded hands, compared to its average volume of 558,339. The stock has a market cap of $22.06 billion, a price-to-earnings ratio of 36.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The firm's fifty day moving average price is $238.72 and its 200-day moving average price is $226.41. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $2.58 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 1.02%. STERIS's dividend payout ratio is presently 36.77%.

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.