Nisa Investment Advisors LLC Sells 1,273 Shares of STERIS plc (NYSE:STE)

Nisa Investment Advisors LLC cut its stake in STERIS plc (NYSE:STE - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,454 shares of the medical equipment provider's stock after selling 1,273 shares during the quarter. Nisa Investment Advisors LLC's holdings in STERIS were worth $2,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of STE. Avalon Trust Co purchased a new stake in shares of STERIS during the fourth quarter valued at approximately $30,000. Grove Bank & Trust increased its position in shares of 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 acquiring an additional 142 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of STERIS during the first quarter valued at approximately $43,000. Golden State Wealth Management LLC increased its position in shares of STERIS by 503.0% during the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 166 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of STERIS during the first quarter valued at approximately $46,000. 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 quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The company has a market capitalization of $22.42 billion, a P/E ratio of 36.76 and a beta of 0.92. The stock's 50 day simple moving average is $238.56 and its 200-day simple moving average is $226.01.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business posted $2.58 earnings per share. The firm'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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were issued a $0.57 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley increased their price target on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Stephens reaffirmed an "overweight" rating and set a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. JMP Securities increased 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. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $263.83.

Insider Activity

In other news, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction dated 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 transaction, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of STERIS 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 completion of the transaction, the senior vice president owned 11,372 shares in the company, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

STERIS 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.