Sustainable Growth Advisers LP Sells 67,156 Shares of STERIS plc (NYSE:STE)

Sustainable Growth Advisers LP lessened its position in STERIS plc (NYSE:STE - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,316,062 shares of the medical equipment provider's stock after selling 67,156 shares during the period. STERIS comprises approximately 1.7% of Sustainable Growth Advisers LP's holdings, making the stock its 24th biggest holding. Sustainable Growth Advisers LP owned about 1.34% of STERIS worth $298,285,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Grove Bank & Trust grew its stake in STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in STERIS during the 1st quarter valued at $43,000. Golden State Wealth Management LLC boosted its stake in STERIS by 503.0% in the first 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. Wayfinding Financial LLC bought a new stake in shares of STERIS during the first quarter worth $46,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of STERIS by 66.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 88 shares in the last quarter. Institutional investors own 94.69% of the company's stock.

Analysts Set New Price Targets

STE has been the topic of several research reports. Stephens reiterated an "overweight" rating and set a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. Jefferies Financial Group began coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. JMP Securities raised their target price on shares of 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 upgraded shares of STERIS from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $260.00 to $276.00 in a report on Tuesday, July 15th. Finally, Citigroup reissued an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $270.33.

Insiders Place Their Bets

In related news, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer directly owned 51,385 shares of the company's stock, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction dated 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 sale, the senior vice president directly owned 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.

STERIS Trading Up 0.8%

NYSE:STE traded up $1.81 on Thursday, reaching $227.28. The company's stock had a trading volume of 376,548 shares, compared to its average volume of 654,806. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The business's 50-day moving average price is $238.33 and its two-hundred day moving average price is $226.96. The firm has a market cap of $22.36 billion, a PE ratio of 36.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96.

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

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors 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 dividend on an annualized basis and a dividend yield of 1.00%. STERIS's payout ratio is 36.77%.

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.