Riverwater Partners LLC Lowers Position in STERIS plc (NYSE:STE)

Riverwater Partners LLC lowered its stake in shares of STERIS plc (NYSE:STE - Free Report) by 53.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,213 shares of the medical equipment provider's stock after selling 2,588 shares during the period. Riverwater Partners LLC's holdings in STERIS were worth $502,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in STE. Empowered Funds LLC boosted its holdings in STERIS by 3.3% in the fourth quarter. Empowered Funds LLC now owns 1,984 shares of the medical equipment provider's stock valued at $408,000 after acquiring an additional 63 shares during the last quarter. Sanctuary Advisors LLC grew its stake in STERIS by 1.8% during the fourth quarter. Sanctuary Advisors LLC now owns 8,161 shares of the medical equipment provider's stock worth $1,809,000 after buying an additional 143 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of STERIS by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 15,045 shares of the medical equipment provider's stock valued at $3,093,000 after acquiring an additional 654 shares in the last quarter. Venturi Wealth Management LLC boosted its position in STERIS by 78.3% during the 4th quarter. Venturi Wealth Management LLC now owns 3,276 shares of the medical equipment provider's stock worth $673,000 after purchasing an additional 1,439 shares during the period. Finally, Bryn Mawr Capital Management LLC raised its position in STERIS by 236.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 2,829 shares of the medical equipment provider's stock valued at $582,000 after purchasing an additional 1,989 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Trading Down 0.4%

NYSE STE opened at $236.15 on Friday. The firm's 50 day moving average price is $233.97 and its two-hundred day moving average price is $223.10. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 38.09 and a beta of 0.94. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.15. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. STERIS's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 EPS. Equities analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.97%. STERIS's dividend payout ratio is 36.77%.

Insider Transactions at STERIS

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were 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 $12,463,945.60. The trade was a 25.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the sale, the senior vice president now directly owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. This trade 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on STE shares. Morgan Stanley upped their target price on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Stephens reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Citigroup reiterated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. Finally, Jefferies Financial Group began coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Three research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $263.83.

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.

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