Harrell Investment Partners LLC Sells 1,175 Shares of STERIS plc (NYSE:STE)

Harrell Investment Partners LLC cut its stake in shares of STERIS plc (NYSE:STE - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,855 shares of the medical equipment provider's stock after selling 1,175 shares during the period. Harrell Investment Partners LLC's holdings in STERIS were worth $1,554,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. State of Alaska Department of Revenue lifted its stake in STERIS by 2.3% during the 1st quarter. State of Alaska Department of Revenue now owns 11,510 shares of the medical equipment provider's stock valued at $2,608,000 after acquiring an additional 255 shares in the last quarter. WD Rutherford LLC bought a new stake in shares of STERIS during the 1st quarter worth $204,000. Grove Bank & Trust raised its stake in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 142 shares during the period. QRG Capital Management Inc. raised its stake in shares of STERIS by 122.5% during the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock worth $642,000 after purchasing an additional 1,559 shares during the period. Finally, Sagespring Wealth Partners LLC raised its stake in shares of STERIS by 12.4% during the 1st quarter. Sagespring Wealth Partners LLC now owns 5,255 shares of the medical equipment provider's stock worth $1,191,000 after purchasing an additional 578 shares during the period. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Performance

NYSE STE traded down $0.77 during trading on Friday, hitting $235.46. 665,854 shares of the company's stock traded hands, compared to its average volume of 547,550. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 37.98 and a beta of 0.94. STERIS plc has a 12-month low of $200.98 and a 12-month 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 business has a 50 day moving average of $234.64 and a 200-day moving average of $223.43.

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

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Tuesday, June 10th. STERIS's dividend payout ratio is presently 36.77%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. Stephens reiterated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Jefferies Financial Group initiated coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price for the company. Finally, 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 note on Friday, May 16th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, STERIS has an average rating of "Moderate Buy" and an average price target of $263.83.

Insider Activity

In other news, SVP Cary L. Majors sold 12,828 shares of the company's 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 sale, the senior vice president now directly owns 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $4,275,362.56. Following the completion of the transaction, the chief executive officer now owns 51,385 shares in the company, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.

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.