STERIS plc $STE Stock Position Decreased 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 lessened its position in STERIS plc (NYSE:STE - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,281 shares of the medical equipment provider's stock after selling 1,952 shares during the quarter. STERIS comprises 71.4% of Diker Management LLC's holdings, making the stock its largest position. Diker Management LLC owned 0.27% of STERIS worth $59,673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after buying an additional 104 shares in the last quarter. Grove Bank & Trust grew its stake in shares of STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after buying an additional 142 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of STERIS in the first quarter valued at $37,000. ORG Wealth Partners LLC acquired a new stake in shares of STERIS in the first quarter valued at $43,000. Finally, Golden State Wealth Management LLC grew its stake 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 worth $45,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Price Performance

STE stock traded down $0.79 on Wednesday, reaching $247.60. The company had a trading volume of 9,011 shares, compared to its average volume of 586,799. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The company's fifty day moving average is $236.74 and its 200 day moving average is $232.63. The company has a market cap of $24.39 billion, a P/E ratio of 37.95 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results 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. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company earned $2.03 EPS. STERIS's revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio is currently 38.59%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group assumed coverage on STERIS in a research note on Thursday, May 29th. They set a "hold" rating and a $263.00 target price for the company. JMP Securities boosted their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Morgan Stanley boosted 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. Stephens reaffirmed an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Finally, KeyCorp upped their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, STERIS currently has an average rating of "Moderate Buy" and an average target price of $273.50.

Insiders Place Their Bets

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction 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 transaction, the director owned 705 shares of the company's stock, valued at $170,299.80. This represents a 83.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the transaction, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $1,448,929.62. This represents a 56.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,709 shares of company stock worth $4,546,940. 1.07% of the stock is owned by company insiders.

About STERIS

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.

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