Principal Financial Group Inc. Sells 93,864 Shares of STERIS plc $STE

Principal Financial Group Inc. lessened its position in shares of STERIS plc (NYSE:STE - Free Report) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 881,336 shares of the medical equipment provider's stock after selling 93,864 shares during the period. Principal Financial Group Inc. owned 0.90% of STERIS worth $223,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of STE. Steigerwald Gordon & Koch Inc. bought a new position in STERIS during the third quarter worth $25,000. Board of the Pension Protection Fund bought a new stake in STERIS in the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC increased its holdings in STERIS by 115.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 60 shares in the last quarter. Activest Wealth Management increased its holdings in STERIS by 423.8% in the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new stake in STERIS in the third quarter worth approximately $29,000. Institutional investors own 94.69% of the company's stock.

STERIS Trading Up 0.3%

STE opened at $212.98 on Wednesday. The company has a market cap of $20.89 billion, a P/E ratio of 29.70 and a beta of 0.95. STERIS plc has a 1-year low of $209.61 and a 1-year high of $269.44. The company has a fifty day moving average price of $225.61 and a two-hundred day moving average price of $244.63. The company has a current ratio of 2.48, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $2.53 EPS for the quarter, meeting the consensus estimate of $2.53. STERIS had a return on equity of 14.34% and a net margin of 12.15%.The business's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.32 earnings per share. Analysts predict that STERIS plc will post 10.22 EPS for the current fiscal year.

STERIS Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on STE. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 26th. Weiss Ratings downgraded shares of STERIS from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $275.20.

Insider Activity at STERIS

In other news, Director Cynthia L. Feldmann sold 3,098 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $237.21, for a total transaction of $734,876.58. Following the completion of the sale, the director owned 705 shares in the company, valued at $167,233.05. The trade was a 81.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.07% of the stock is currently owned by corporate insiders.

STERIS Profile

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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