Teacher Retirement System of Texas Sells 5,258 Shares of STERIS plc (NYSE:STE)

Teacher Retirement System of Texas lowered its position in shares of STERIS plc (NYSE:STE - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,430 shares of the medical equipment provider's stock after selling 5,258 shares during the period. Teacher Retirement System of Texas' holdings in STERIS were worth $3,271,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Avalon Trust Co bought a new stake in shares of STERIS in the 4th quarter valued at about $30,000. Grove Bank & Trust lifted its stake in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after acquiring an additional 142 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of STERIS in the 1st quarter valued at about $43,000. Brown Brothers Harriman & Co. increased its holdings in STERIS by 66.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 88 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings 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 valued at $45,000 after purchasing an additional 166 shares during the period. Institutional investors own 94.69% of the company's stock.

Insiders Place Their Bets

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the sale, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The stock was 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 owned 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

STERIS Stock Performance

Shares of NYSE:STE traded down $2.80 during midday trading on Friday, hitting $227.92. The company had a trading volume of 431,191 shares, compared to its average volume of 551,392. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 36.76 and a beta of 0.92. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The company has a fifty day moving average of $238.56 and a two-hundred day moving average of $226.01.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $2.58 EPS. STERIS's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. STERIS's payout ratio is presently 36.77%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stephens restated an "overweight" rating and set a $250.00 price target on shares of STERIS in a report on Thursday, May 15th. JMP Securities upped their price target on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Jefferies Financial Group initiated coverage on STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research report on Monday, April 7th. Finally, Morgan Stanley increased their price target on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $263.83.

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.