Kentucky Retirement Systems Sells 49 Shares of STERIS plc (NYSE:STE)

Kentucky Retirement Systems reduced its position in shares of STERIS plc (NYSE:STE) by 0.7% in the first quarter, HoldingsChannel reports. The firm owned 6,728 shares of the medical equipment provider’s stock after selling 49 shares during the quarter. Kentucky Retirement Systems’ holdings in STERIS were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Harvey Investment Co. LLC grew its stake in shares of STERIS by 18.3% during the 1st quarter. Harvey Investment Co. LLC now owns 66,660 shares of the medical equipment provider’s stock valued at $15,108,000 after purchasing an additional 10,300 shares during the period. Running Oak Capital LLC lifted its position in shares of STERIS by 12.1% during the 1st quarter. Running Oak Capital LLC now owns 66,459 shares of the medical equipment provider’s stock valued at $15,063,000 after buying an additional 7,183 shares in the last quarter. Suncoast Equity Management lifted its position in shares of STERIS by 16.7% during the 1st quarter. Suncoast Equity Management now owns 4,155 shares of the medical equipment provider’s stock valued at $942,000 after buying an additional 595 shares in the last quarter. Compass Ion Advisors LLC lifted its position in shares of STERIS by 22.3% during the 1st quarter. Compass Ion Advisors LLC now owns 3,281 shares of the medical equipment provider’s stock valued at $744,000 after buying an additional 598 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of STERIS by 16.5% during the 1st quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider’s stock valued at $90,000 after buying an additional 56 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Morgan Stanley lifted their price objective on STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 14th. Finally, Jefferies Financial Group assumed coverage on STERIS in a research report on Thursday, May 29th. They set a “hold” rating and a $263.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.83.

Insider Buying and Selling

In other news, SVP Cary L. Majors sold 12,828 shares of the company’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 of the company’s stock, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel A. Carestio sold 17,626 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the sale, the chief executive officer now directly owns 51,385 shares in the company, valued at $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

STERIS Stock Up 1.2%

NYSE STE opened at $239.72 on Wednesday. The stock’s 50 day moving average is $235.26 and its 200 day moving average is $223.69. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79. The stock has a market cap of $23.58 billion, a PE ratio of 38.67 and a beta of 0.94.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the firm earned $2.58 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. Research analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

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

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.