STERIS plc (NYSE:STE) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of STERIS plc (NYSE:STE - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,218 shares of the medical equipment provider's stock after purchasing an additional 3,137 shares during the period. Cerity Partners LLC owned approximately 0.08% of STERIS worth $16,821,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Select Equity Group L.P. raised its holdings in STERIS by 165.3% during 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 purchasing an additional 1,619,796 shares in the last quarter. Geode Capital Management LLC raised its holdings in STERIS by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock worth $483,775,000 after purchasing an additional 56,123 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in STERIS by 15.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock worth $257,585,000 after purchasing an additional 172,795 shares in the last quarter. Franklin Resources Inc. raised its holdings in STERIS by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after purchasing an additional 378,252 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in STERIS by 7.4% during the fourth quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock worth $249,352,000 after purchasing an additional 83,601 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Needham & Company LLC restated a "hold" rating on shares of STERIS in a research report on Monday, April 7th. Morgan Stanley upgraded shares of STERIS from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $260.00 to $276.00 in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 target price on the stock. Finally, Stephens restated an "overweight" rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $266.50.

Insider Buying and Selling

In related news, CEO Daniel A. Carestio sold 17,626 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the sale, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president owned 11,372 shares in the company, 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. 1.07% of the stock is currently owned by company insiders.

STERIS Price Performance

Shares of STE traded down $1.49 during mid-day trading on Wednesday, reaching $227.35. 254,231 shares of the company's stock were exchanged, compared to its average volume of 553,663. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $238.71 and a two-hundred day simple moving average of $226.27. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 36.66 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) 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 analyst estimates of $1.47 billion. During the same quarter last year, the business earned $2.58 earnings per share. STERIS's revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. STERIS's dividend payout ratio (DPR) is currently 36.77%.

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.