Marks Group Wealth Management Inc Grows Stock Position in STERIS plc (NYSE:STE)

Marks Group Wealth Management Inc raised its position in shares of STERIS plc (NYSE:STE - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,197 shares of the medical equipment provider's stock after purchasing an additional 2,487 shares during the period. Marks Group Wealth Management Inc's holdings in STERIS were worth $8,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of STE. Avalon Trust Co bought a new position in shares of STERIS during the 4th quarter worth $30,000. Grove Bank & Trust lifted its holdings in STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 142 shares during the last quarter. ORG Wealth Partners LLC bought a new position in STERIS during the first quarter worth about $43,000. Brown Brothers Harriman & Co. increased its stake in shares of STERIS by 66.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 88 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 166 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STE stock traded down $2.80 on Friday, reaching $227.92. The company's stock had a trading volume of 431,191 shares, compared to its average volume of 551,392. The company has a market capitalization of $22.42 billion, a P/E ratio of 36.76 and a beta of 0.92. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The stock's 50 day simple moving average is $238.56 and its 200-day simple moving average is $226.01. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29.

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

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, June 10th. STERIS's payout ratio is 36.77%.

Insider Buying and Selling at STERIS

In other STERIS 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 sale, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $3,208,026.24. Following the transaction, the senior vice president owned 11,372 shares in the company, 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. Company insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Jefferies Financial Group assumed coverage on STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target for the company. Citigroup reiterated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. JMP Securities increased their price objective on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Finally, Stephens reaffirmed an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.