STERIS plc (NYSE:STE) Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP has reduced its stake in STERIS plc by 47%, now holding 2,381 shares valued at $540,000, according to a recent SEC filing.
• STERIS announced a quarterly dividend increase to $0.63 per share, a rise from the previous $0.57, with a dividend yield of approximately 1.0%.
• The company's recent quarterly earnings report showed a better-than-expected EPS of $2.34, surpassing analysts' predictions and reflecting an 8.8% revenue increase compared to the previous year.

Entropy Technologies LP decreased its holdings in STERIS plc (NYSE:STE - Free Report) by 47.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,381 shares of the medical equipment provider's stock after selling 2,113 shares during the period. Entropy Technologies LP's holdings in STERIS were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in STE. QRG Capital Management Inc. grew its holdings in shares of STERIS by 122.5% during the first quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock valued at $642,000 after buying an additional 1,559 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of STERIS by 31.9% during the 1st quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider's stock worth $23,229,000 after acquiring an additional 24,809 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of STERIS by 23.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after acquiring an additional 230 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 166 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of STERIS by 17.1% during the 1st quarter. Vontobel Holding Ltd. now owns 2,071 shares of the medical equipment provider's stock worth $469,000 after purchasing an additional 302 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.96, for a total value of $994,455.60. Following the completion of the sale, the director directly owned 22,361 shares of the company's stock, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president directly owned 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,959 shares of company stock valued at $11,231,764. 1.07% of the stock is owned by insiders.

STERIS Stock Performance

STE traded down $0.63 on Friday, reaching $245.51. The company had a trading volume of 466,774 shares, compared to its average volume of 661,603. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The stock has a market capitalization of $24.18 billion, a PE ratio of 37.60 and a beta of 0.92. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $234.34 and a 200-day moving average price of $229.55.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly 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 net margin of 11.61% and a return on equity of 14.17%. The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the company earned $2.03 earnings per share. STERIS's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts forecast 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 will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. STERIS's dividend payout ratio is currently 34.92%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 price target for the company. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Citigroup reiterated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. KeyCorp lifted their target price on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Finally, JMP Securities boosted their price target 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. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, STERIS currently has an average rating of "Moderate Buy" and a consensus target price of $273.50.

STERIS Company 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.