Premier Fund Managers Ltd Sells 63,616 Shares of STERIS plc $STE

Key Points

• Premier Fund Managers Ltd sold 63,616 shares of STERIS, cutting its stake by 31.6% to 137,384 shares, representing about 2.0% of the fund's portfolio and roughly $35.09 million (0.14% of the company).
• Director Cynthia L. Feldmann sold 3,098 shares at an average price of $237.21 (total ~$734,877), an 81.46% reduction that leaves her with 705 shares; insiders own about 1.07% of STERIS.
• STERIS announced a quarterly dividend of $0.63 (annual $2.52, yield 1.2%, ex-dividend June 8), and analysts hold a consensus "Moderate Buy" rating with an average price target of $275.20 despite a few recent downgrades.

Premier Fund Managers Ltd decreased its holdings in STERIS plc (NYSE:STE - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 137,384 shares of the medical equipment provider's stock after selling 63,616 shares during the period. STERIS makes up about 2.0% of Premier Fund Managers Ltd's portfolio, making the stock its 14th biggest position. Premier Fund Managers Ltd owned about 0.14% of STERIS worth $35,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of STE. Steigerwald Gordon & Koch Inc. bought a new position in shares of STERIS in the 3rd quarter valued at $25,000. Board of the Pension Protection Fund bought a new position in shares of STERIS in the 4th quarter valued at $25,000. Harbor Investment Advisory LLC increased its stake in shares of STERIS by 115.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of STERIS by 423.8% during the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in shares of STERIS during the 3rd quarter valued at $29,000. Institutional investors own 94.69% of the company's stock.

Insider Activity

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $237.21, for a total transaction of $734,876.58. Following the transaction, the director owned 705 shares in the company, valued at $167,233.05. The trade was a 81.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STE. Weiss Ratings downgraded STERIS from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 16th. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 26th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and an average price target of $275.20.

STERIS Trading Up 0.8%

NYSE STE opened at $214.69 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.48 and a debt-to-equity ratio of 0.26. STERIS plc has a twelve month low of $209.61 and a twelve month high of $269.44. The company has a market cap of $21.05 billion, a price-to-earnings ratio of 29.94 and a beta of 0.95. The business's fifty day moving average is $224.96 and its 200 day moving average is $244.45.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.53. STERIS had a return on equity of 14.34% and a net margin of 12.15%.STERIS's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.32 EPS. As a group, sell-side analysts expect that STERIS plc will post 10.22 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, June 8th. STERIS's payout ratio is currently 35.15%.

About STERIS

STERIS Corporation NYSE: STE is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.

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