Royal Bank of Canada Sells 44,274 Shares of STERIS plc $STE

Royal Bank of Canada cut its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 26.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,950 shares of the medical equipment provider's stock after selling 44,274 shares during the quarter. Royal Bank of Canada owned 0.13% of STERIS worth $27,865,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust boosted its position in 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 acquiring an additional 142 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of STERIS during the 1st quarter valued at about $37,000. ORG Wealth Partners LLC acquired a new stake in shares of STERIS during the 1st quarter valued at about $43,000. Golden State Wealth Management LLC lifted its holdings in shares of STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 166 shares during the last quarter. Finally, Costello Asset Management INC acquired a new stake in shares of STERIS during the 1st quarter valued at about $45,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Trading Down 0.7%

Shares of STERIS stock traded down $1.68 during trading hours on Friday, hitting $250.75. The company's stock had a trading volume of 77,183 shares, compared to its average volume of 587,197. STERIS plc has a 12 month low of $200.98 and a 12 month high of $253.00. The stock has a 50 day moving average of $237.16 and a 200 day moving average of $232.91. The company has a market capitalization of $24.70 billion, a PE ratio of 38.52 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53.

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

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, September 4th. This is a boost from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. STERIS's dividend payout ratio is 38.59%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STE shares. JMP Securities boosted their target price on shares of 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 price objective on shares of STERIS in a report on Thursday, May 15th. Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Morgan Stanley upped their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, KeyCorp boosted their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, STERIS has a consensus rating of "Moderate Buy" and a consensus price target of $273.50.

Insider Transactions at STERIS

In other news, CAO Karen L. Burton sold 7,900 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.73, for a total value of $1,909,667.00. Following the sale, the chief accounting officer owned 5,994 shares of the company's stock, valued at $1,448,929.62. The trade was a 56.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mohsen Sohi sold 4,110 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the sale, the director directly owned 22,361 shares in the company, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,709 shares of company stock valued at $4,546,940 in the last ninety days. Corporate insiders own 1.07% of the company's stock.

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.