Southeast Asset Advisors LLC Sells 3,132 Shares of STERIS plc $STE

Key Points

• Southeast Asset Advisors LLC has reduced its stake in STERIS plc by 17.4%, now holding 14,829 shares valued at $3,361,000.
• Several hedge funds have increased their positions in STERIS, with GAMMA Investing LLC raising its stake by an astonishing 35,759.9% during the 1st quarter.
• STERIS recently announced a quarterly dividend of $0.63 per share, a notable increase from its previous dividend of $0.57, reflecting its commitment to returning value to shareholders.

Southeast Asset Advisors LLC reduced its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,829 shares of the medical equipment provider's stock after selling 3,132 shares during the quarter. Southeast Asset Advisors LLC's holdings in STERIS were worth $3,361,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Select Equity Group L.P. lifted its holdings in shares of STERIS by 165.3% in the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after acquiring an additional 1,619,796 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in STERIS by 9.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after purchasing an additional 452,146 shares in the last quarter. GAMMA Investing LLC increased its position in STERIS by 35,759.9% during the 1st quarter. GAMMA Investing LLC now owns 410,237 shares of the medical equipment provider's stock worth $92,980,000 after purchasing an additional 409,093 shares in the last quarter. Nuveen LLC bought a new position in STERIS in the 1st quarter valued at approximately $65,435,000. Finally, Wellington Management Group LLP boosted its position in STERIS by 4,534.6% in the fourth quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider's stock valued at $45,024,000 after buying an additional 214,306 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STE has been the subject of several research analyst reports. JMP Securities upped their price target on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Morgan Stanley boosted their price objective on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Jefferies Financial Group assumed coverage on STERIS in a research note on Thursday, May 29th. They set a "hold" rating and a $263.00 price target on the stock. Finally, Citigroup restated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $273.50.

STERIS Trading Down 1.7%

NYSE STE traded down $4.20 during mid-day trading on Thursday, reaching $244.78. 512,916 shares of the stock were exchanged, compared to its average volume of 593,066. The stock has a market cap of $24.11 billion, a P/E ratio of 37.49 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. STERIS plc has a one year low of $200.98 and a one year high of $252.79. The stock has a 50 day simple moving average of $235.61 and a 200-day simple moving average of $231.05.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share 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 firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted $2.03 EPS. The business's quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given 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 of this dividend is Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. STERIS's payout ratio is 34.92%.

Insider Buying and Selling

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the transaction, the director owned 705 shares in the company, valued at $170,299.80. The trade was a 83.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Karen L. Burton sold 7,900 shares of the firm's stock in a transaction on Monday, August 11th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold a total of 36,335 shares of company stock worth $8,822,302 over the last ninety days. 1.07% of the stock is owned by company insiders.

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.