Municipal Employees Retirement System of Michigan reduced its stake in STERIS PLC (NYSE:STE) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,780 shares of the medical equipment provider’s stock after selling 6,700 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in STERIS PLC were worth $2,672,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Counselors of Maryland LLC raised its position in shares of STERIS PLC by 28.7% in the first quarter. Investment Counselors of Maryland LLC now owns 2,640 shares of the medical equipment provider’s stock valued at $183,000 after buying an additional 588 shares during the last quarter. Aureus Asset Management LLC acquired a new position in shares of STERIS PLC during the first quarter valued at $245,000. CENTRAL TRUST Co raised its position in shares of STERIS PLC by 1.3% in the first quarter. CENTRAL TRUST Co now owns 3,670 shares of the medical equipment provider’s stock valued at $255,000 after buying an additional 47 shares during the last quarter. Bbva Compass Bancshares Inc. raised its position in shares of STERIS PLC by 9.2% in the first quarter. Bbva Compass Bancshares Inc. now owns 3,664 shares of the medical equipment provider’s stock valued at $255,000 after buying an additional 308 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of STERIS PLC by 7.8% in the first quarter. Diversified Trust Co now owns 3,816 shares of the medical equipment provider’s stock valued at $265,000 after buying an additional 275 shares during the last quarter. Institutional investors own 92.40% of the company’s stock.
STERIS PLC (STE) opened at 85.13 on Friday. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 60.89 and a beta of 1.33. STERIS PLC has a 52-week low of $63.80 and a 52-week high of $87.49. The stock’s 50 day moving average price is $83.11 and its 200 day moving average price is $75.64.
STERIS PLC (NYSE:STE) last released its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. STERIS PLC had a return on equity of 11.39% and a net margin of 4.63%. The business had revenue of $608 million during the quarter, compared to the consensus estimate of $597.66 million. During the same period in the prior year, the firm posted $0.79 EPS. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts forecast that STERIS PLC will post $4.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Tuesday, August 29th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.46%. This is a boost from STERIS PLC’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 25th. STERIS PLC’s dividend payout ratio is 80.00%.
Several brokerages recently weighed in on STE. Wellington Shields lowered STERIS PLC from a “gradually accumulate” rating to a “hold” rating in a research report on Monday, June 5th. BidaskClub lowered STERIS PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. increased their price objective on STERIS PLC from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded STERIS PLC from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, July 11th. Finally, KeyCorp upgraded STERIS PLC from a “sector weight” rating to an “overweight” rating and set a $89.00 price target for the company in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.75.
In related news, insider Daniel A. Carestio sold 4,745 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $80.08, for a total transaction of $379,979.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhir K. Pahwa sold 800 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $77.28, for a total transaction of $61,824.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,354 shares of company stock valued at $3,805,772. 2.55% of the stock is owned by corporate insiders.
About STERIS PLC
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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