QRG Capital Management Inc. Acquires 1,559 Shares of STERIS plc (NYSE:STE)

QRG Capital Management Inc. lifted its position in shares of STERIS plc (NYSE:STE - Free Report) by 122.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,832 shares of the medical equipment provider's stock after purchasing an additional 1,559 shares during the period. QRG Capital Management Inc.'s holdings in STERIS were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its position in STERIS by 23.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after buying an additional 230 shares during the period. Fifth Third Bancorp raised its stake in shares of STERIS by 16.8% during the first quarter. Fifth Third Bancorp now owns 2,893 shares of the medical equipment provider's stock valued at $656,000 after acquiring an additional 416 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of STERIS during the first quarter worth $412,000. RWA Wealth Partners LLC acquired a new position in shares of STERIS during the fourth quarter worth $561,000. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of STERIS by 6.7% in the first quarter. Foster Victor Wealth Advisors LLC now owns 72,692 shares of the medical equipment provider's stock worth $16,071,000 after purchasing an additional 4,566 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Insider Transactions at STERIS

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 51,385 shares of the company's stock, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The sale 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 business's stock in a transaction that occurred on 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 sale, the senior vice president now owns 11,372 shares of the company's stock, 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. Insiders own 1.07% of the company's stock.

STERIS Trading Up 0.4%

STE stock traded up $0.87 during mid-day trading on Wednesday, reaching $240.46. The company's stock had a trading volume of 534,990 shares, compared to its average volume of 547,357. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 38.78 and a beta of 0.94. The business's 50 day moving average price is $235.67 and its 200 day moving average price is $223.81. The company has a current ratio of 1.96, a quick ratio of 1.39 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.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm posted $2.58 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. STERIS's dividend payout ratio is currently 36.77%.

Analyst Ratings Changes

Several research analysts recently issued reports on STE shares. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. JMP Securities lifted their price objective on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Stephens reiterated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Needham & Company LLC restated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Finally, Morgan Stanley boosted their price target on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, STERIS has an average rating of "Moderate Buy" and an average target price of $263.83.

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.