STERIS plc (NYSE:STE) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in STERIS plc (NYSE:STE - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,066,839 shares of the medical equipment provider's stock after selling 74,286 shares during the quarter. Bessemer Group Inc. owned 1.09% of STERIS worth $241,801,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Slocum Gordon & Co LLP purchased a new position in shares of STERIS during the 1st quarter valued at approximately $57,000. Berry Wealth Group LP grew its position in STERIS by 6.2% during the first quarter. Berry Wealth Group LP now owns 1,188 shares of the medical equipment provider's stock valued at $269,000 after buying an additional 69 shares during the period. Asset Management One Co. Ltd. increased its holdings in STERIS by 2.6% in the first quarter. Asset Management One Co. Ltd. now owns 99,798 shares of the medical equipment provider's stock valued at $22,581,000 after buying an additional 2,500 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in STERIS by 3.7% in the first quarter. GHP Investment Advisors Inc. now owns 61,484 shares of the medical equipment provider's stock valued at $13,935,000 after buying an additional 2,186 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of STERIS by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider's stock worth $2,029,000 after acquiring an additional 431 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STE. Jefferies Financial Group assumed coverage on STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 target price on the stock. Citigroup reiterated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Stephens reaffirmed an "overweight" rating and set a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. Finally, Morgan Stanley increased their target price on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $263.83.

Insider Activity

In related news, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president now owns 11,372 shares of the company's stock, valued at $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of STERIS 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 of the company's stock, valued at $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.

STERIS Trading Up 0.4%

STERIS stock traded up $0.87 during trading on Wednesday, reaching $240.46. 534,990 shares of the company were exchanged, compared to its average volume of 546,303. The stock's 50 day simple moving average is $235.26 and its two-hundred day simple moving average is $223.69. The company has a market capitalization of $23.65 billion, a P/E ratio of 38.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The company's revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio is currently 36.77%.

About STERIS

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.