Crestwood Advisors Group LLC Invests $1.40 Million in STERIS plc (NYSE:STE)

Crestwood Advisors Group LLC purchased a new position in shares of STERIS plc (NYSE:STE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,189 shares of the medical equipment provider's stock, valued at approximately $1,403,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in STERIS by 9.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock valued at $1,232,828,000 after purchasing an additional 452,146 shares in the last quarter. Select Equity Group L.P. raised its holdings in shares of STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after acquiring an additional 1,619,796 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of STERIS by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock worth $483,775,000 after acquiring an additional 56,123 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of STERIS by 15.9% during the fourth 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. Finally, Franklin Resources Inc. raised its holdings in STERIS by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock valued at $250,130,000 after buying an additional 378,252 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of STERIS stock opened at $223.90 on Wednesday. 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 firm has a market capitalization of $22.03 billion, a P/E ratio of 36.11 and a beta of 0.92. The company's 50 day moving average price is $238.49 and its two-hundred day moving average price is $226.99.

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 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 quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. On average, equities analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. STERIS's dividend payout ratio (DPR) is currently 36.77%.

Analyst Upgrades and Downgrades

STE has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Citigroup reissued an "outperform" rating on shares of STERIS in a report on Friday, May 16th. KeyCorp boosted their price target on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday. JMP Securities upped their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, STERIS presently has an average rating of "Moderate Buy" and a consensus price target of $270.33.

Insider Transactions at STERIS

In other news, CEO Daniel A. Carestio sold 17,626 shares of the firm's 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 completion of the sale, the chief executive officer directly owned 51,385 shares in the company, valued at $12,463,945.60. This trade represents a 25.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction that occurred 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 directly owned 11,372 shares in the company, valued at approximately $2,843,909.76. This trade 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 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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