Kavar Capital Partners Group LLC Sells 1,379 Shares of STERIS plc (NYSE:STE)

Kavar Capital Partners Group LLC lessened its position in STERIS plc (NYSE:STE - Free Report) by 6.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 21,188 shares of the medical equipment provider's stock after selling 1,379 shares during the period. Kavar Capital Partners Group LLC's holdings in STERIS were worth $4,802,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of STE. Phillips Wealth Planners LLC raised its holdings in shares of STERIS by 15.0% in the 1st quarter. Phillips Wealth Planners LLC now owns 2,898 shares of the medical equipment provider's stock worth $641,000 after acquiring an additional 379 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 166 shares in the last quarter. Slocum Gordon & Co LLP purchased a new stake in shares of STERIS in the first quarter worth approximately $57,000. Berry Wealth Group LP lifted its holdings in shares of STERIS by 6.2% in the first quarter. Berry Wealth Group LP now owns 1,188 shares of the medical equipment provider's stock valued at $269,000 after purchasing an additional 69 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of STERIS by 2.6% during the first quarter. Asset Management One Co. Ltd. now owns 99,798 shares of the medical equipment provider's stock valued at $22,581,000 after buying an additional 2,500 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

Insider Transactions at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the firm's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 11,372 shares of the company's stock, valued at $2,843,909.76. This trade represents a 53.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction 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 directly owns 51,385 shares in the company, 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. Corporate insiders own 1.07% of the company's stock.

STERIS Stock Performance

Shares of STE stock traded up $0.10 during trading hours on Friday, hitting $238.63. 741,594 shares of the company were exchanged, compared to its average volume of 547,934. 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 stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 38.49 and a beta of 0.94. The firm has a fifty day simple moving average of $236.31 and a 200 day simple moving average of $224.24. 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 announced 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. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 EPS. Research analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 yield of 0.96%. STERIS's payout ratio is 36.77%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STE. Morgan Stanley raised their price objective on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. 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 price target on the stock. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. 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. Finally, Stephens restated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, STERIS has a consensus rating of "Moderate Buy" and an average price target of $263.83.

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.