CX Institutional Makes New Investment in STERIS plc (NYSE:STE)

CX Institutional bought a new position in shares of STERIS plc (NYSE:STE) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 931 shares of the medical equipment provider’s stock, valued at approximately $211,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new stake in STERIS during the fourth quarter worth approximately $30,000. Human Investing LLC acquired a new position in STERIS in the fourth quarter valued at $31,000. Anfield Capital Management LLC lifted its holdings in STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 91 shares during the period. Manchester Capital Management LLC raised its holdings in shares of STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 137 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of STERIS by 66.7% during the fourth 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. Institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

STERIS Price Performance

STE stock opened at $241.16 on Friday. The firm has a market cap of $23.72 billion, a P/E ratio of 51.20 and a beta of 0.94. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The firm’s fifty day moving average is $232.76 and its 200 day moving average is $222.69.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.15. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 earnings per share. Research analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.95%. STERIS’s payout ratio is presently 36.77%.

Insider Activity

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the sale, the chief executive officer now owns 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Cary L. Majors sold 12,828 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the sale, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

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.