Envestnet Asset Management Inc. Sells 6,188 Shares of STERIS plc (NYSE:STE)

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

Other large investors have also modified their holdings of the company. Select Equity Group L.P. increased its position in STERIS by 165.3% in the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after buying an additional 1,619,796 shares during the period. Geode Capital Management LLC raised its stake in STERIS by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock valued at $483,775,000 after purchasing an additional 56,123 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in STERIS by 15.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock valued at $257,585,000 after purchasing an additional 172,795 shares during the period. Franklin Resources Inc. grew its position in STERIS by 45.1% in the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after purchasing an additional 378,252 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of STERIS by 7.4% during the 4th quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock worth $249,352,000 after purchasing an additional 83,601 shares during the period. 94.69% of the stock is owned by institutional investors.

STERIS Stock Performance

STE stock traded down $0.84 during midday trading on Thursday, reaching $230.44. 530,745 shares of the company were exchanged, compared to its average volume of 550,670. The firm has a market capitalization of $22.67 billion, a price-to-earnings ratio of 37.17 and a beta of 0.92. The business has a 50-day moving average price of $238.49 and a two-hundred day moving average price of $225.76. STERIS plc has a one year low of $200.98 and a one year 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.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the prior year, the firm earned $2.58 EPS. The business's revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.99%. STERIS's dividend payout ratio (DPR) is currently 36.77%.

Insider Buying and Selling 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 value of $3,208,026.24. Following the transaction, the senior vice president owned 11,372 shares in the company, valued at $2,843,909.76. The trade was a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the sale, the chief executive officer owned 51,385 shares in the company, valued at $12,463,945.60. This represents a 25.54% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STE. Stephens restated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. JMP Securities increased their price objective 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. 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 target price on the stock. Morgan Stanley increased their price target on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Needham & Company LLC reissued a "hold" rating on shares of STERIS in a report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and an average price target of $263.83.

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.