Gateway Investment Advisers LLC Trims Position in STERIS plc (NYSE:STE)

Gateway Investment Advisers LLC trimmed its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,337 shares of the medical equipment provider's stock after selling 9,941 shares during the period. Gateway Investment Advisers LLC's holdings in STERIS were worth $8,236,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in STE. Select Equity Group L.P. lifted its position in STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock valued at $534,400,000 after purchasing an additional 1,619,796 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 56,123 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of 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 buying an additional 172,795 shares during the period. Franklin Resources Inc. boosted its stake in shares of STERIS by 45.1% in the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after buying an additional 378,252 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in STERIS by 7.4% during the fourth quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock worth $249,352,000 after acquiring an additional 83,601 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Up 0.1%

Shares of NYSE STE opened at $243.71 on Friday. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of 51.74 and a beta of 0.94. The company's 50-day simple moving average is $230.25 and its 200-day simple moving average is $221.76. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79.

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 (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the previous year, the firm posted $2.58 EPS. STERIS's revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio is currently 36.77%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target for the company. Morgan Stanley lifted their target price on shares of STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Citigroup reissued an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Wall Street Zen cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Finally, JMP Securities increased their target price 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.83.

Insider Buying and Selling at STERIS

In related news, 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 now owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction dated 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 now owns 51,385 shares of the company's stock, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

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.

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