PNC Financial Services Group Inc. grew its stake in STERIS plc (NYSE:STE - Free Report) by 35.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,159 shares of the medical equipment provider's stock after buying an additional 13,474 shares during the period. PNC Financial Services Group Inc. owned 0.05% of STERIS worth $11,595,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Grove Bank & Trust lifted its holdings in STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after acquiring an additional 142 shares during the period. ORG Wealth Partners LLC acquired a new stake in STERIS during the first quarter valued at $43,000. Golden State Wealth Management LLC increased its holdings in STERIS by 503.0% in the first 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 in the last quarter. Wayfinding Financial LLC purchased a new position in shares of STERIS in the 1st quarter valued at about $46,000. Finally, Slocum Gordon & Co LLP purchased a new position in STERIS during the first quarter worth approximately $57,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the sale, the chief executive officer directly owned 51,385 shares of the company's stock, valued at approximately $12,463,945.60. The trade was 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 the firm's 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 owned 11,372 shares in the company, valued at $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research firms recently commented on STE. Jefferies Financial Group started coverage on STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Citigroup restated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Morgan Stanley raised shares of STERIS from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $260.00 to $276.00 in a research report on Tuesday, July 15th. Finally, Stephens reissued an "overweight" rating and set a $250.00 price target on shares of STERIS in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and a consensus target price of $270.33.
Get Our Latest Stock Analysis on STE
STERIS Price Performance
Shares of STE traded down $2.28 during mid-day trading on Wednesday, reaching $221.59. 725,974 shares of the company's stock were exchanged, compared to its average volume of 680,424. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. 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 $234.35 and a two-hundred day simple moving average of $228.30. The company has a market cap of $21.80 billion, a price-to-earnings ratio of 35.74 and a beta of 0.92.
STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. STERIS had a net margin of 11.26% and a return on equity of 14.21%. During the same quarter in the prior year, the company earned $2.03 EPS. The business's revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.
STERIS Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be issued a $0.63 dividend. The ex-dividend date is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.1%. This is a boost from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is currently 36.77%.
About STERIS
(
Free Report)
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.
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