Keybank National Association OH Reduces Position in STERIS plc (NYSE:STE)

Keybank National Association OH trimmed its position in STERIS plc (NYSE:STE - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,431 shares of the medical equipment provider's stock after selling 6,273 shares during the period. Keybank National Association OH's holdings in STERIS were worth $5,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Select Equity Group L.P. lifted its stake in shares of 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 worth $534,400,000 after buying an additional 1,619,796 shares during the period. Geode Capital Management LLC lifted its stake in shares of STERIS by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock worth $483,775,000 after buying an additional 56,123 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of STERIS by 15.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock worth $257,585,000 after buying an additional 172,795 shares during the period. Franklin Resources Inc. lifted its stake in shares of STERIS by 45.1% during 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 period. Finally, Northern Trust Corp lifted its stake in shares of 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 buying an additional 83,601 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at STERIS

In other news, SVP Cary L. Majors sold 12,828 shares of the business'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 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 transaction 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 business's stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on STE. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. JMP Securities raised their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Jefferies Financial Group began coverage on shares of STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 target price for the company. Stephens reissued an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Finally, Citigroup reissued an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Three 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.83.

STERIS Stock Performance

STE traded down $4.46 on Monday, reaching $233.09. The stock had a trading volume of 523,505 shares, compared to its average volume of 550,154. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. 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 business's 50-day moving average price is $238.02 and its two-hundred day moving average price is $225.51. The company has a market cap of $22.93 billion, a P/E ratio of 37.60 and a beta of 0.92.

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

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were paid 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 0.98%. STERIS's dividend payout ratio is currently 36.77%.

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.