Curi RMB Capital LLC Cuts Stock Position in STERIS plc $STE

Key Points

• Curi RMB Capital LLC sold 2,314 shares of STERIS plc, reducing its holdings by 61.4% to a total of 1,455 shares valued at $330,000.
• STERIS recently reported a quarterly earnings of $2.34 EPS, slightly exceeding the consensus estimate, alongside an 8.8% year-over-year revenue increase to $1.40 billion.
• The company announced a dividend increase to $0.63 per share, reflecting a 1.0% yield, with an upcoming payment date of September 26th.

Curi RMB Capital LLC cut its holdings in STERIS plc (NYSE:STE - Free Report) by 61.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,455 shares of the medical equipment provider's stock after selling 2,314 shares during the quarter. Curi RMB Capital LLC's holdings in STERIS were worth $330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STE. Grove Bank & Trust grew its position in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of STERIS in the 1st quarter worth about $37,000. ORG Wealth Partners LLC purchased a new stake in shares of STERIS in the 1st quarter worth about $43,000. Golden State Wealth Management LLC grew its position in shares of STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after buying an additional 166 shares during the period. Finally, Costello Asset Management INC purchased a new stake in shares of STERIS in the 1st quarter worth about $45,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the sale, the chief accounting officer directly owned 5,994 shares of the company's stock, valued at $1,448,929.62. This trade represents a 56.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Renato Tamaro sold 3,204 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the sale, the vice president directly owned 7,221 shares of the company's stock, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,709 shares of company stock valued at $4,546,940. Corporate insiders own 1.07% of the company's stock.

STERIS Price Performance

STE traded up $0.32 during trading on Tuesday, reaching $248.64. 396,163 shares of the company traded hands, compared to its average volume of 444,037. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The firm has a fifty day simple moving average of $236.74 and a 200 day simple moving average of $232.63. The company has a market cap of $24.49 billion, a P/E ratio of 38.08 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $2.03 EPS. The company's revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.63 per share. This is an increase from STERIS's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. STERIS's payout ratio is 38.59%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STE shares. Morgan Stanley upped their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. KeyCorp increased their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They set a "hold" rating and a $263.00 target price on the stock. JMP Securities upped their target price on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Finally, Citigroup restated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

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.