Riverwater Partners LLC Decreases Holdings in STERIS plc (NYSE:STE)

Riverwater Partners LLC cut its stake in shares of STERIS plc (NYSE:STE - Free Report) by 53.9% during the first quarter, according to 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avalon Trust Co purchased a new position in STERIS in the fourth quarter valued at about $30,000. Grove Bank & Trust lifted its position in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 142 shares during the last quarter. Anfield Capital Management LLC raised its holdings in STERIS by 100.0% in the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock valued at $37,000 after acquiring an additional 91 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in STERIS in the 1st quarter valued at approximately $43,000. Finally, Brown Brothers Harriman & Co. raised its holdings in STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 88 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction 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 directly owns 51,385 shares of the company's stock, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now owns 11,372 shares of the company's stock, valued at $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.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STE shares. Citigroup reiterated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Stephens reiterated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Jefferies Financial Group assumed coverage on STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Finally, Morgan Stanley increased their price target on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Three 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $263.83.

STERIS Stock Up 0.5%

Shares of NYSE STE traded up $1.28 during mid-day trading on Monday, hitting $236.95. The company had a trading volume of 430,320 shares, compared to its average volume of 547,080. STERIS plc has a one year low of $200.98 and a one year high of $252.79. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $23.31 billion, a PE ratio of 38.22 and a beta of 0.94. The firm has a 50-day simple moving average of $234.89 and a two-hundred day simple moving average of $223.58.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the business posted $2.58 earnings per share. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

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 paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Tuesday, June 10th. STERIS's payout ratio is 36.77%.

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.