Dakota Wealth Management Sells 1,117 Shares of STERIS plc $STE

Key Points

• Dakota Wealth Management has decreased its stake in STERIS plc by 53.9%, selling 1,117 shares and now holding 956 shares worth approximately $230,000.
• STERIS recently announced a quarterly dividend of $0.63, increasing from $0.57, representing an annualized dividend of $2.52 and a yield of 1.0%.
• Analysts have raised STERIS's price target, with Morgan Stanley updating their forecast from $276.00 to $295.00, giving the stock an "overweight" rating.

Dakota Wealth Management lessened its stake in shares of STERIS plc (NYSE:STE - Free Report) by 53.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 956 shares of the medical equipment provider's stock after selling 1,117 shares during the period. Dakota Wealth Management's holdings in STERIS were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in STERIS by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock valued at $2,710,247,000 after purchasing an additional 46,628 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in STERIS by 9.1% during the first 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 during the last quarter. Generation Investment Management LLP grew its holdings in STERIS by 5.4% during the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock valued at $760,308,000 after purchasing an additional 170,392 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in STERIS during the first quarter valued at approximately $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in STERIS by 55.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider's stock valued at $344,617,000 after purchasing an additional 540,999 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

Shares of NYSE:STE opened at $245.37 on Tuesday. STERIS plc has a twelve month low of $200.98 and a twelve month high of $253.00. The firm has a market cap of $24.17 billion, a PE ratio of 37.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The business has a fifty day moving average of $241.76 and a 200-day moving average of $234.89.

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

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from STERIS's previous quarterly dividend of $0.57. The ex-dividend date was Thursday, September 4th. STERIS's dividend payout ratio is 38.59%.

Wall Street Analyst Weigh In

STE has been the subject of several research reports. KeyCorp increased their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Morgan Stanley increased their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

Insiders Place Their Bets

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

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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