State Board of Administration of Florida Retirement System Reduces Holdings in STERIS plc (NYSE:STE)

State Board of Administration of Florida Retirement System reduced its holdings in shares of STERIS plc (NYSE:STEGet Rating) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,981 shares of the medical equipment provider’s stock after selling 3,829 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.11% of STERIS worth $27,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in STE. Private Harbour Investment Management & Counsel LLC grew its holdings in shares of STERIS by 0.7% during the fourth quarter. Private Harbour Investment Management & Counsel LLC now owns 7,629 shares of the medical equipment provider’s stock worth $1,857,000 after buying an additional 50 shares in the last quarter. Values First Advisors Inc. boosted its position in shares of STERIS by 3.5% in the first quarter. Values First Advisors Inc. now owns 1,902 shares of the medical equipment provider’s stock worth $460,000 after acquiring an additional 64 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of STERIS by 1.2% in the fourth quarter. Benjamin Edwards Inc. now owns 5,426 shares of the medical equipment provider’s stock worth $1,321,000 after acquiring an additional 66 shares during the last quarter. Stephens Inc. AR boosted its position in shares of STERIS by 2.8% in the first quarter. Stephens Inc. AR now owns 2,949 shares of the medical equipment provider’s stock worth $713,000 after acquiring an additional 81 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of STERIS by 1.8% in the first quarter. CIBC Asset Management Inc now owns 5,227 shares of the medical equipment provider’s stock worth $1,264,000 after acquiring an additional 90 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Trading Up 1.9 %

STE opened at $211.98 on Friday. The firm has a market capitalization of $21.21 billion, a P/E ratio of 56.83 and a beta of 0.71. The firm’s 50 day moving average is $212.61 and its 200-day moving average is $225.17. STERIS plc has a 52-week low of $192.40 and a 52-week high of $255.93. The company has a quick ratio of 1.41, a current ratio of 2.03 and a debt-to-equity ratio of 0.44.

STERIS (NYSE:STEGet Rating) last issued its quarterly earnings results on Wednesday, May 11th. The medical equipment provider reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. STERIS had a net margin of 7.90% and a return on equity of 12.40%. Analysts expect that STERIS plc will post 8.5 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, September 6th. This is a positive change from STERIS’s previous quarterly dividend of $0.43. STERIS’s payout ratio is 46.11%.

Insider Buying and Selling

In related news, VP John Adam Zangerle sold 2,659 shares of STERIS stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $205.31, for a total value of $545,919.29. Following the completion of the sale, the vice president now owns 27,936 shares in the company, valued at $5,735,540.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STE. JMP Securities decreased their target price on shares of STERIS from $270.00 to $250.00 in a research report on Thursday. Piper Sandler assumed coverage on shares of STERIS in a research report on Thursday, July 14th. They set an “overweight” rating and a $240.00 price target on the stock. StockNews.com cut shares of STERIS from a “buy” rating to a “hold” rating in a research report on Wednesday. KeyCorp reduced their price target on shares of STERIS from $256.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC reduced their price target on shares of STERIS from $248.00 to $237.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and an average price target of $251.71.

About STERIS

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STERIS plc provides infection prevention and other procedural 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; accessories for gastrointestinal (GI) procedures, 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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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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