STERIS plc $STE Shares Sold by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. sold 1,310 shares of STERIS plc, reducing its holdings by 49.1% to a total of 1,360 shares valued at $327,000.
• STERIS recently increased its quarterly dividend from $0.57 to $0.63 per share, representing a 1.0% dividend yield.
• Analysts have a generally positive outlook on STERIS, with a consensus target price of $273.50 and several upgrades from firms including Morgan Stanley and KeyCorp.

Praxis Investment Management Inc. lowered its position in STERIS plc (NYSE:STE - Free Report) by 49.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,360 shares of the medical equipment provider's stock after selling 1,310 shares during the quarter. Praxis Investment Management Inc.'s holdings in STERIS were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STE. GAMMA Investing LLC boosted its holdings in STERIS by 58.2% in the first quarter. GAMMA Investing LLC now owns 1,810 shares of the medical equipment provider's stock valued at $410,000 after acquiring an additional 666 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in STERIS by 11.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,078 shares of the medical equipment provider's stock valued at $1,831,000 after acquiring an additional 801 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in STERIS by 122.5% in the first quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock valued at $642,000 after acquiring an additional 1,559 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in STERIS by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 11,510 shares of the medical equipment provider's stock valued at $2,608,000 after acquiring an additional 255 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in STERIS in the first quarter valued at $43,000. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Trading Down 0.0%

Shares of STE opened at $240.25 on Friday. STERIS plc has a 12 month low of $200.98 and a 12 month high of $253.00. The stock has a market cap of $23.66 billion, a PE ratio of 36.79 and a beta of 1.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The stock's 50-day moving average is $245.08 and its two-hundred day moving average is $236.33.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned $2.03 earnings per share. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast 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 was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. STERIS's dividend payout ratio is presently 38.59%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. KeyCorp boosted their price objective on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of STERIS in a research note on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $273.50.

Insider Buying and Selling at STERIS

In other news, CEO Daniel A. Carestio sold 159 shares of STERIS stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $241.82, for a total transaction of $38,449.38. Following the sale, the chief executive officer directly owned 51,096 shares of the company's stock, valued at approximately $12,356,034.72. The trade was a 0.31% 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, VP Renato Tamaro sold 3,204 shares of STERIS stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the sale, the vice president directly owned 7,221 shares in the company, valued at approximately $1,799,762.04. The trade was a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,868 shares of company stock valued at $4,585,389. Company insiders own 1.07% of the company's stock.

STERIS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.