Principal Financial Group Inc. Has $256.02 Million Position in STERIS plc (NYSE:STE)

Principal Financial Group Inc. raised its stake in shares of STERIS plc (NYSE:STE - Free Report) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,129,579 shares of the medical equipment provider's stock after buying an additional 9,936 shares during the quarter. Principal Financial Group Inc. owned about 1.15% of STERIS worth $256,019,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Avalon Trust Co bought a new stake in shares of STERIS in the fourth quarter worth about $30,000. Grove Bank & Trust grew its stake in shares of STERIS by 4,733.3% during 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 in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of STERIS in the first quarter valued at approximately $43,000. Golden State Wealth Management LLC increased its stake in STERIS by 503.0% in the 1st 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 during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of STERIS by 66.7% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Monday, April 7th. JMP Securities increased their price target on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Morgan Stanley lifted their price objective on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Jefferies Financial Group began coverage on shares of STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Finally, Stephens reaffirmed an "overweight" rating and issued 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and an average price target of $263.83.

STERIS Price Performance

Shares of NYSE:STE traded down $0.70 during trading on Friday, reaching $237.55. 242,380 shares of the company traded hands, compared to its average volume of 549,170. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79. The firm has a market capitalization of $23.37 billion, a PE ratio of 38.31 and a beta of 0.92. The company's 50 day moving average is $237.86 and its two-hundred day moving average is $225.06.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, beating the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

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

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the transaction, the senior vice president directly owned 11,372 shares in the company, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 51,385 shares in the company, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their position. The disclosure for this sale can be found here. Company 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.