Gilliland Jeter Wealth Management LLC Reduces Stake in STERIS plc (NYSE:STE)

Gilliland Jeter Wealth Management LLC lessened its position in shares of STERIS plc (NYSE:STE - Free Report) by 42.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,506 shares of the medical equipment provider's stock after selling 1,102 shares during the quarter. Gilliland Jeter Wealth Management LLC's holdings in STERIS were worth $341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STE. Washington Trust Bank lifted its stake in shares of STERIS by 37.5% in the 1st quarter. Washington Trust Bank now owns 1,550 shares of the medical equipment provider's stock valued at $351,000 after purchasing an additional 423 shares during the period. Fullcircle Wealth LLC bought a new stake in STERIS in the first quarter worth approximately $235,000. Financiere des Professionnels Fonds d investissement inc. lifted its stake in STERIS by 14.6% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,492 shares of the medical equipment provider's stock valued at $11,444,000 after buying an additional 6,439 shares during the period. Cloud Capital Management LLC bought a new position in shares of STERIS during the 1st quarter worth approximately $98,000. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of STERIS by 16.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 8,899 shares of the medical equipment provider's stock worth $2,017,000 after buying an additional 1,279 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Wall Street Analyst Weigh In

STE has been the topic of a number of research reports. Citigroup reiterated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Jefferies Financial Group initiated coverage on shares of STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Morgan Stanley increased their price objective 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. JMP Securities boosted their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Three 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $263.83.

STERIS Stock Down 1.9%

Shares of STE traded down $4.46 on Monday, reaching $233.09. The company's stock had a trading volume of 523,505 shares, compared to its average volume of 550,154. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The stock has a market capitalization of $22.93 billion, a PE ratio of 37.60 and a beta of 0.92. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $237.86 and a 200-day moving average of $225.19.

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

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 0.98%. STERIS's dividend payout ratio is currently 36.77%.

Insider Transactions at STERIS

In other news, CEO Daniel A. Carestio sold 17,626 shares of the company'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 directly owned 51,385 shares of the company's stock, valued at $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following 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. 1.07% of the stock is owned by company insiders.

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.