Rathbones Group PLC Sells 4,460 Shares of STERIS plc (NYSE:STE)

Key Points

• Rathbones Group PLC reduced its holdings in STERIS plc by 3.8% during the first quarter, now owning about 0.12% of the company, valued at approximately $25.7 million.
• STERIS received a strong-buy rating upgrade from Wall Street Zen, with various analysts adjusting their price targets, the consensus now at $273.50.
• STERIS announced an increase in its quarterly dividend to $0.63, with an annual yield of 1.0%, payable on September 26th.

Rathbones Group PLC decreased its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,468 shares of the medical equipment provider's stock after selling 4,460 shares during the quarter. Rathbones Group PLC owned about 0.12% of STERIS worth $25,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in STE. Park Edge Advisors LLC lifted its stake in STERIS by 1.0% during the first quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock valued at $1,067,000 after purchasing an additional 47 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of STERIS by 16.5% during the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after acquiring an additional 56 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in shares of STERIS by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock valued at $1,423,000 after acquiring an additional 62 shares during the period. Gallagher Fiduciary Advisors LLC raised its holdings in shares of STERIS by 3.3% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 1,970 shares of the medical equipment provider's stock valued at $405,000 after acquiring an additional 63 shares during the period. Finally, West Coast Financial LLC raised its holdings in shares of STERIS by 3.9% during the first quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock valued at $376,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Down 0.4%

STERIS stock traded down $0.92 during trading hours on Thursday, hitting $246.16. The company had a trading volume of 447,191 shares, compared to its average volume of 693,051. The firm has a market capitalization of $24.24 billion, a P/E ratio of 37.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The firm's fifty day moving average is $234.30 and its 200-day moving average is $229.39. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping the consensus estimate of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business posted $2.03 EPS. STERIS's quarterly revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

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

Insider Activity at STERIS

In other news, Director Mohsen Sohi sold 4,110 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the transaction, the director owned 22,361 shares in the company, valued at $5,410,467.56. This represents a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the sale, the chief accounting officer directly owned 5,994 shares of the company's stock, valued at approximately $1,448,929.62. This trade represents a 56.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,959 shares of company stock worth $11,231,764 over the last quarter. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. KeyCorp boosted their price target on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. JMP Securities boosted their price target on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Jefferies Financial Group assumed coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Finally, Stephens reiterated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $273.50.

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.