STERIS plc (NYSE:STE) Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of STERIS plc (NYSE:STE - Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 586,698 shares of the medical equipment provider's stock after selling 34,749 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of STERIS worth $132,975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STE. Select Equity Group L.P. increased its position in STERIS by 165.3% during the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after purchasing an additional 1,619,796 shares in the last quarter. Norges Bank acquired a new stake in STERIS during the 4th quarter worth approximately $238,836,000. GAMMA Investing LLC increased its position in STERIS by 35,759.9% during the 1st quarter. GAMMA Investing LLC now owns 410,237 shares of the medical equipment provider's stock worth $92,980,000 after purchasing an additional 409,093 shares in the last quarter. Franklin Resources Inc. increased its position in STERIS by 45.1% during the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after purchasing an additional 378,252 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in STERIS by 4,534.6% during the 4th quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider's stock worth $45,024,000 after purchasing an additional 214,306 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Down 1.2%

Shares of STERIS stock traded down $2.80 during trading on Friday, reaching $227.92. The company had a trading volume of 431,191 shares, compared to its average volume of 550,422. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 36.76 and a beta of 0.92. The firm's fifty day moving average is $238.49 and its 200-day moving average is $225.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.15. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.58 EPS. On average, analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were paid a $0.57 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. STERIS's dividend payout ratio (DPR) is presently 36.77%.

Insider Transactions at STERIS

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

Analyst Ratings Changes

Several analysts have issued reports on STE shares. Stephens reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Morgan Stanley boosted their price objective on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. JMP Securities boosted their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.