NBW Capital LLC Sells 7,073 Shares of STERIS plc (NYSE:STE)

Key Points

• NBW Capital LLC has reduced its holdings in STERIS plc by 24.7%, now owning 21,567 shares valued at $4,888,000 after selling 7,073 shares.
• Analysts have increased their price targets for STERIS, with JMP Securities raising it to $280.00 and KeyCorp to $288.00, reflecting a consensus rating of "Moderate Buy" for the stock.
• STERIS announced a quarterly dividend increase from $0.57 to $0.63 per share, set to be paid on September 26th, representing an annualized yield of 1.1%.

NBW Capital LLC lessened its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 24.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 21,567 shares of the medical equipment provider's stock after selling 7,073 shares during the quarter. NBW Capital LLC's holdings in STERIS were worth $4,888,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in STE. Wells Fargo & Company MN lifted its holdings in shares of STERIS by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 88,360 shares of the medical equipment provider's stock valued at $18,163,000 after buying an additional 394 shares during the period. Invesco Ltd. raised its position in STERIS by 9.3% during the fourth quarter. Invesco Ltd. now owns 1,022,479 shares of the medical equipment provider's stock valued at $210,181,000 after buying an additional 87,215 shares during the period. Bank of Nova Scotia raised its position in STERIS by 382.7% during the fourth quarter. Bank of Nova Scotia now owns 59,508 shares of the medical equipment provider's stock valued at $12,232,000 after buying an additional 47,181 shares during the period. Treasurer of the State of North Carolina increased its position in STERIS by 0.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 44,509 shares of the medical equipment provider's stock worth $9,149,000 after purchasing an additional 200 shares during the last quarter. Finally, Argent Trust Co increased its position in STERIS by 11.9% in the 4th quarter. Argent Trust Co now owns 2,213 shares of the medical equipment provider's stock worth $455,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Buying and Selling at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of the firm'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 sale, the chief executive officer owned 51,385 shares of the company's stock, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction dated 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 sale, the senior vice president directly owned 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STE. Morgan Stanley upgraded STERIS from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $260.00 to $276.00 in a research note on Tuesday, July 15th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. KeyCorp increased their target price on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, JMP Securities increased their target price on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $270.33.

STERIS Trading Up 2.9%

STE traded up $6.83 during mid-day trading on Friday, reaching $243.07. The stock had a trading volume of 863,791 shares, compared to its average volume of 722,235. The stock has a market capitalization of $23.91 billion, a P/E ratio of 37.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.39 and a current ratio of 2.22. The firm's fifty day simple moving average is $234.13 and its two-hundred day simple moving average is $228.81. 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 posted its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $2.03 EPS. The firm's revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, September 4th. This is a boost from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is 34.92%.

STERIS Company 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.