Mohsen Sohi Sells 4,110 Shares of STERIS plc (NYSE:STE) Stock

Key Points

• Mohsen Sohi, Director of STERIS plc, sold 4,110 shares at an average price of $241.96, totaling approximately $994,455.60, which represents a 15.53% decrease in their ownership of the company.
• STERIS recently reported $2.34 earnings per share for the quarter, exceeding estimates, and had revenue of $1.40 billion, up 8.8% year-over-year.
• The company will increase its quarterly dividend to $0.63, up from $0.57, with an ex-dividend date of September 4th, reflecting a current yield of 1.0%.

STERIS plc (NYSE:STE - Get Free Report) Director Mohsen Sohi sold 4,110 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the sale, the director directly owned 22,361 shares in the company, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

STERIS Price Performance

STE traded up $2.10 on Tuesday, hitting $243.72. 341,082 shares of the stock were exchanged, compared to its average volume of 723,378. The firm has a market capitalization of $24.00 billion, a price-to-earnings ratio of 37.32 and a beta of 0.92. 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 12 month low of $200.98 and a 12 month high of $252.79. The business has a 50-day moving average of $234.13 and a two-hundred day moving average of $229.09.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $2.03 earnings per share. STERIS's revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a $0.63 dividend. This is a boost from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. STERIS's dividend payout ratio (DPR) is 34.92%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STE shares. KeyCorp increased their target price on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Citigroup reissued an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. JMP Securities increased 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. Stephens reaffirmed an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Finally, Jefferies Financial Group began coverage on STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and a consensus target price of $273.50.

Hedge Funds Weigh In On STERIS

A number of hedge funds have recently modified their holdings of STE. Vanguard Group Inc. increased its holdings in STERIS by 1.7% in the second quarter. Vanguard Group Inc. now owns 12,163,128 shares of the medical equipment provider's stock worth $2,921,827,000 after purchasing an additional 205,276 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in STERIS by 9.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after purchasing an additional 452,146 shares in the last quarter. Generation Investment Management LLP increased its position in shares of STERIS by 5.4% during the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock valued at $760,308,000 after acquiring an additional 170,392 shares during the last quarter. Select Equity Group L.P. increased its stake in shares of STERIS by 165.3% during the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after purchasing an additional 1,619,796 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of STERIS by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,479,108 shares of the medical equipment provider's stock valued at $592,980,000 after buying an additional 46,859 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

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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