STERIS (NYSE:STE) CEO Daniel Carestio Sells 159 Shares

Key Points

• STERIS CEO Daniel Carestio sold 159 shares of the company's stock for a total of $38,449.38, decreasing his ownership to 51,096 shares.
• The company's stock price rose 0.4% to $242.42, with a market cap of approximately $23.88 billion.
• STERIS declared a quarterly dividend of $0.63 per share, marking an increase from the previous $0.57, yielding about 1.0%.

STERIS plc (NYSE:STE - Get Free Report) CEO Daniel Carestio sold 159 shares of the company's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the transaction, the chief executive officer owned 51,096 shares in the company, valued at approximately $12,356,034.72. This represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

STERIS Stock Up 0.4%

Shares of STERIS stock traded up $0.86 during midday trading on Wednesday, reaching $242.42. 396,498 shares of the company's stock traded hands, compared to its average volume of 591,145. The company has a market cap of $23.88 billion, a price-to-earnings ratio of 37.12 and a beta of 1.01. The company's 50 day simple moving average is $243.63 and its 200 day simple moving average is $235.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. STERIS plc has a 52 week low of $200.98 and a 52 week high of $253.00.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. Equities analysts expect 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 was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were given a $0.63 dividend. The ex-dividend date was Thursday, September 4th. This represents a $2.52 annualized dividend and a yield of 1.0%. This is a positive change from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is 38.59%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. KeyCorp raised their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of STERIS in a research report on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and an average target price of $273.50.

Hedge Funds Weigh In On STERIS

Institutional investors have recently added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new position in shares of STERIS in the second quarter worth about $29,000. Geneos Wealth Management Inc. increased its holdings in shares of STERIS by 416.0% in the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Grove Bank & Trust raised its position in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 142 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in STERIS during the 1st quarter worth $37,000. Finally, ORG Wealth Partners LLC bought a new position in STERIS in the 1st quarter valued at $43,000. 94.69% of the stock is owned by institutional investors.

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.

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