Callahan Advisors LLC Has $9.38 Million Holdings in STERIS plc (NYSE:STE)

Callahan Advisors LLC raised its holdings in STERIS plc (NYSE:STE - Free Report) by 7.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,376 shares of the medical equipment provider's stock after buying an additional 2,807 shares during the quarter. Callahan Advisors LLC's holdings in STERIS were worth $9,378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Select Equity Group L.P. grew its holdings in shares of 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. Geode Capital Management LLC boosted its position in STERIS by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock valued at $483,775,000 after buying an additional 56,123 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of STERIS by 15.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock worth $257,585,000 after acquiring an additional 172,795 shares in the last quarter. Franklin Resources Inc. boosted its stake in STERIS by 45.1% in the fourth 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, Northern Trust Corp lifted its position in STERIS by 7.4% during the 4th quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock worth $249,352,000 after buying an additional 83,601 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Analyst Ratings Changes

STE has been the topic of several research reports. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Monday, April 7th. JMP Securities raised their target price 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. Citigroup reissued an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Finally, Morgan Stanley lifted their price target on shares of STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and an average price target of $263.83.

Insider Buying and Selling

In related news, CEO Daniel A. Carestio sold 17,626 shares of the firm's stock in a transaction 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 of the company's stock, valued at $12,463,945.60. This trade represents a 25.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the sale, the senior vice president owned 11,372 shares in the company, valued at approximately $2,843,909.76. This represents a 53.01% 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 Stock Down 0.4%

STE stock opened at $230.44 on Friday. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of 37.17 and a beta of 0.92. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The business's fifty day moving average price is $238.49 and its two-hundred day moving average price is $225.76.

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 for the quarter, beating analysts' consensus estimates of $2.59 by $0.15. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company's revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. On average, equities analysts anticipate that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 0.99%. 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.

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