Mediolanum International Funds Ltd Sells 11,497 Shares of STERIS plc (NYSE:STE)

Key Points

• Mediolanum International Funds Ltd reduced its stake in STERIS plc by 16.7%, now holding 57,171 shares worth approximately $12.75 million.
• Analysts generally have a positive outlook on STERIS, with a consensus rating of "Moderate Buy" and an average price target of $270.33.
• STERIS recently announced a quarterly dividend of $0.57 per share, representing a 0.99% dividend yield with a payout ratio of 36.77%.

Mediolanum International Funds Ltd lowered its position in shares of STERIS plc (NYSE:STE - Free Report) by 16.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,171 shares of the medical equipment provider's stock after selling 11,497 shares during the quarter. Mediolanum International Funds Ltd owned approximately 0.06% of STERIS worth $12,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in STE. Prudential Financial Inc. raised its position in shares of STERIS by 233.2% during the fourth quarter. Prudential Financial Inc. now owns 52,592 shares of the medical equipment provider's stock worth $10,811,000 after acquiring an additional 36,808 shares during the last quarter. Korea Investment CORP increased its holdings in STERIS by 158.3% in the fourth quarter. Korea Investment CORP now owns 69,830 shares of the medical equipment provider's stock valued at $14,354,000 after purchasing an additional 42,800 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new stake in STERIS in the fourth quarter valued at about $2,104,000. NEOS Investment Management LLC increased its holdings in STERIS by 30.1% in the fourth quarter. NEOS Investment Management LLC now owns 5,374 shares of the medical equipment provider's stock valued at $1,105,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Norges Bank bought a new stake in STERIS in the fourth quarter valued at about $238,836,000. Institutional investors own 94.69% of the company's stock.

Insider Activity

In related news, CEO Daniel A. Carestio sold 17,626 shares of the company'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 owned 51,385 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, 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 value of $3,208,026.24. Following the sale, 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 position. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on STE shares. JMP Securities upped their price objective on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a report on Monday, April 7th. KeyCorp upped their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Finally, Citigroup reissued an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $270.33.

STERIS Trading Up 0.2%

NYSE:STE traded up $0.47 on Wednesday, reaching $228.84. The company's stock had a trading volume of 71,747 shares, compared to its average volume of 596,748. 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 firm has a market cap of $22.51 billion, a PE ratio of 36.91 and a beta of 0.92. The business's 50-day moving average price is $236.57 and its two-hundred day moving average price is $227.69. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79.

STERIS (NYSE:STE - Get Free Report) last posted 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 analysts' expectations of $1.47 billion. STERIS had a return on equity of 14.21% and a net margin of 11.26%. STERIS's revenue for the quarter 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. Equities research analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 1.00%. 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.