Harvey Investment Co. LLC grew its stake in shares of STERIS plc (NYSE:STE - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,660 shares of the medical equipment provider's stock after acquiring an additional 10,300 shares during the period. STERIS accounts for 1.7% of Harvey Investment Co. LLC's investment portfolio, making the stock its 21st biggest holding. Harvey Investment Co. LLC owned 0.07% of STERIS worth $15,108,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in STERIS by 16.8% in the first quarter. Fifth Third Bancorp now owns 2,893 shares of the medical equipment provider's stock worth $656,000 after purchasing an additional 416 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in STERIS by 23.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after purchasing an additional 230 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new stake in STERIS in the first quarter worth $412,000. RWA Wealth Partners LLC bought a new stake in STERIS in the fourth quarter worth $561,000. Finally, Foster Victor Wealth Advisors LLC boosted its holdings in STERIS by 6.7% in the first quarter. Foster Victor Wealth Advisors LLC now owns 72,692 shares of the medical equipment provider's stock worth $16,071,000 after purchasing an additional 4,566 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.
STERIS Stock Down 0.3%
STE stock opened at $235.46 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a 50-day moving average of $234.64 and a two-hundred day moving average of $223.39. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 37.98 and a beta of 0.94.
STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The business's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that STERIS plc will post 9.08 EPS for the current year.
STERIS Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Tuesday, June 10th. STERIS's payout ratio is presently 36.77%.
Insider Activity at STERIS
In related news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the sale, the chief executive officer now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. The trade was a 53.01% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on STE shares. Citigroup reiterated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Jefferies Financial Group started coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. JMP Securities upped their price objective 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. Finally, Morgan Stanley upped their price objective on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, STERIS has an average rating of "Moderate Buy" and an average target price of $263.83.
View Our Latest Stock Analysis on STERIS
STERIS Company Profile
(
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.
See Also
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