Wellington Management Group LLP Sells 8,479 Shares of STERIS plc $STE

Key Points

• Wellington Management Group LLP reduced its stake in STERIS plc by 3.9%, selling 8,479 shares, while retaining 210,553 shares worth approximately $47.7 million.
• STERIS recently announced an increase in its quarterly dividend to $0.63 per share, representing a 1.0% yield and a total annualized dividend of $2.52.
• Analysts have a consensus rating of "Moderate Buy" for STERIS, with the average price target set at $273.50, reflecting several recent adjustments from various financial institutions.

Wellington Management Group LLP cut its stake in STERIS plc (NYSE:STE - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,553 shares of the medical equipment provider's stock after selling 8,479 shares during the period. Wellington Management Group LLP owned 0.21% of STERIS worth $47,722,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings in 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 acquiring an additional 142 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in STERIS in the first quarter valued at approximately $37,000. ORG Wealth Partners LLC bought a new stake in STERIS in the first quarter valued at approximately $43,000. Golden State Wealth Management LLC boosted its holdings 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 valued at $45,000 after acquiring an additional 166 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in STERIS in the first quarter valued at approximately $45,000. 94.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at STERIS

In related news, VP Renato Tamaro sold 3,204 shares of the company's stock in a transaction 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 sale, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This represents a 30.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cynthia L. Feldmann sold 3,495 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.56, for a total value of $844,252.20. Following the sale, the director owned 705 shares of the company's stock, valued at $170,299.80. This trade represents a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,335 shares of company stock valued at $8,822,302 in the last three months. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on STE. KeyCorp upped their target price on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Citigroup reissued an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Stephens reissued an "overweight" rating and issued a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Finally, JMP Securities boosted their price target on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

STERIS Stock Up 0.2%

Shares of NYSE:STE traded up $0.49 during trading on Friday, reaching $245.26. 561,727 shares of the stock were exchanged, compared to its average volume of 544,020. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The stock has a fifty day moving average of $235.98 and a two-hundred day moving average of $231.34. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of 37.56 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share 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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. STERIS's revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.0%. This is an increase from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. STERIS's dividend payout ratio is currently 34.92%.

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.