Penobscot Investment Management Company Inc. Sells 1,352 Shares of STERIS plc (NYSE:STE)

Penobscot Investment Management Company Inc. reduced its stake in STERIS plc (NYSE:STE - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,305 shares of the medical equipment provider's stock after selling 1,352 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in STERIS were worth $1,202,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in STE. Avalon Trust Co acquired a new stake in shares of STERIS in the fourth quarter worth $30,000. Grove Bank & Trust raised its holdings in STERIS by 4,733.3% in 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. Anfield Capital Management LLC lifted its position in STERIS by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock worth $37,000 after acquiring an additional 91 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in STERIS during the 1st quarter worth $43,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in STERIS by 66.7% during the fourth 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 during the period. Institutional investors own 94.69% of the company's stock.

STERIS Stock Performance

Shares of STE traded up $0.10 on Friday, reaching $238.63. 741,594 shares of the stock traded hands, compared to its average volume of 548,200. The stock's 50-day moving average price is $235.99 and its 200-day moving average price is $223.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 38.49 and a beta of 0.94. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Tuesday, June 10th. STERIS's dividend payout ratio (DPR) is presently 36.77%.

Insiders Place Their Bets

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the company's 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 sale, the chief executive officer now directly owns 51,385 shares in the company, valued at $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president now owns 11,372 shares of the company's stock, valued at $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STE. Morgan Stanley lifted their price objective on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Monday, April 7th. JMP Securities raised their price objective 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. Finally, Stephens reaffirmed an "overweight" rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, STERIS presently has an average rating of "Moderate Buy" and a consensus price target of $263.83.

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.