STERIS plc $STE Holdings Lowered by Diker Management LLC

Key Points

• Diker Management LLC reduced its position in STERIS plc by 0.7%, now owning 263,281 shares, which constitutes 71.4% of its holdings.
• STERIS recently declared a quarterly dividend of $0.63 per share, up from $0.57, representing a dividend yield of 1.0%.
• The stock has a P/E ratio of 37.95 and is currently rated as "Moderate Buy" with an average target price of $273.50 by research analysts.

Diker Management LLC decreased its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,281 shares of the medical equipment provider's stock after selling 1,952 shares during the quarter. STERIS accounts for approximately 71.4% of Diker Management LLC's portfolio, making the stock its largest position. Diker Management LLC owned about 0.27% of STERIS worth $59,673,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Focus Partners Wealth raised its position in STERIS by 3.9% during the first quarter. Focus Partners Wealth now owns 8,751 shares of the medical equipment provider's stock valued at $1,984,000 after purchasing an additional 329 shares in the last quarter. Jane Street Group LLC lifted its stake in STERIS by 38.9% during the first quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider's stock worth $4,695,000 after purchasing an additional 5,803 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in shares of STERIS by 1,783.3% in the 1st quarter. Bayforest Capital Ltd now owns 565 shares of the medical equipment provider's stock worth $128,000 after purchasing an additional 535 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of STERIS by 55.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider's stock valued at $344,617,000 after purchasing an additional 540,999 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Performance

STE stock traded down $1.63 during midday trading on Monday, reaching $248.25. 162,238 shares of the company's stock traded hands, compared to its average volume of 588,788. 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 plc has a 52-week low of $200.98 and a 52-week high of $253.00. The stock has a market cap of $24.45 billion, a P/E ratio of 38.03 and a beta of 0.95. The stock's 50-day moving average is $237.41 and its 200 day moving average is $233.25.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. As a group, analysts anticipate that STERIS plc will post 9.08 EPS for the current 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 given a $0.63 dividend. The ex-dividend date is 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 yield of 1.0%. STERIS's dividend payout ratio (DPR) is currently 38.59%.

Insider Buying and Selling

In related news, VP Renato Tamaro sold 3,204 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.56, for a total transaction of $844,252.20. Following the sale, the director owned 705 shares in the company, valued at approximately $170,299.80. The trade was a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,709 shares of company stock worth $4,546,940 over the last ninety days. 1.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price for the company. KeyCorp increased their price target on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Morgan Stanley raised their target price on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $273.50.

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.