STERIS plc $STE Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in STERIS plc by 31.6%, selling 2,436 shares and holding 5,275 shares valued at approximately $1.2 million.
• Several institutional investors, including Select Equity Group L.P. and GAMMA Investing LLC, made significant increases in their stakes, with GAMMA boosting theirs by 35,759.9%.
• STERIS announced a quarterly dividend increase from $0.57 to $0.63, resulting in a yield of 1.0% as part of a broader positive earnings report showing a revenue rise of 8.8% year-over-year.

Gulf International Bank UK Ltd reduced its stake in STERIS plc (NYSE:STE - Free Report) by 31.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,275 shares of the medical equipment provider's stock after selling 2,436 shares during the period. Gulf International Bank UK Ltd's holdings in STERIS were worth $1,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Grove Bank & Trust raised its position in STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 142 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of STERIS in the first quarter worth about $37,000. ORG Wealth Partners LLC bought a new stake in shares of STERIS in the first quarter worth about $43,000. Golden State Wealth Management LLC boosted its position in STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 166 shares in the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of STERIS in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 94.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. KeyCorp boosted their price target on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Stephens reiterated an "overweight" rating and set a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. JMP Securities boosted their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Citigroup reissued an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, STERIS currently has an average rating of "Moderate Buy" and a consensus price target of $273.50.

STERIS Price Performance

Shares of STERIS stock traded up $2.7520 during trading hours on Tuesday, reaching $247.3120. The stock had a trading volume of 376,744 shares, compared to its average volume of 599,081. The stock's 50 day moving average is $234.38 and its 200 day moving average is $229.84. The firm has a market capitalization of $24.36 billion, a PE ratio of 37.87 and a beta of 0.92. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the company earned $2.03 earnings per share. The company's quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.63 per share. This is a boost from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. STERIS's dividend payout ratio (DPR) is currently 34.92%.

Insider Buying and Selling at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.73, for a total value of $1,909,667.00. Following the sale, the chief accounting officer directly owned 5,994 shares of the company's stock, valued at approximately $1,448,929.62. This represents a 56.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 51,385 shares in the company, valued at $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,131 shares of company stock valued at $8,023,737 in the last quarter. Corporate insiders own 1.07% of the company's stock.

STERIS Company Profile

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.