Envestnet Asset Management Inc. Cuts Position in STERIS plc (NYSE:STE)

Envestnet Asset Management Inc. reduced its position in shares of STERIS plc (NYSE:STE - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 460,080 shares of the medical equipment provider's stock after selling 6,188 shares during the period. Envestnet Asset Management Inc. owned about 0.47% of STERIS worth $104,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of STE. Park Edge Advisors LLC increased its stake in STERIS by 1.0% during the 1st quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock worth $1,067,000 after acquiring an additional 47 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of STERIS by 5.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 975 shares of the medical equipment provider's stock valued at $201,000 after purchasing an additional 54 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of STERIS by 16.5% in the 1st quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after purchasing an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of STERIS by 1.0% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock valued at $1,423,000 after purchasing an additional 62 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC boosted its holdings in shares of STERIS by 3.3% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 1,970 shares of the medical equipment provider's stock valued at $405,000 after purchasing an additional 63 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction dated 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 completion of the transaction, the senior vice president owned 11,372 shares in the company, valued at approximately $2,843,909.76. The trade was a 53.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 51,385 shares in the company, valued at $12,463,945.60. The trade was a 25.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on STE. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. JMP Securities raised their price objective on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Finally, Morgan Stanley raised their price objective on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, STERIS presently has an average rating of "Moderate Buy" and an average price target of $263.83.

STERIS Trading Down 1.2%

Shares of STE stock traded down $2.80 during mid-day trading on Friday, hitting $227.92. The company's stock had a trading volume of 431,191 shares, compared to its average volume of 551,392. The company's fifty day simple moving average is $238.56 and its 200-day simple moving average is $226.13. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The company has a market cap of $22.42 billion, a PE ratio of 36.76 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company posted $2.58 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Tuesday, June 10th. STERIS's payout ratio is 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.