Insider Selling: STERIS plc (NYSE:STE) VP Sells 1,154 Shares of Stock

STERIS plc (NYSE:STE) VP Renato Tamaro sold 1,154 shares of STERIS stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $231.64, for a total transaction of $267,312.56. Following the completion of the transaction, the vice president now directly owns 6,677 shares of the company’s stock, valued at $1,546,660.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

STERIS Price Performance

Shares of STE stock traded up $0.07 during midday trading on Monday, reaching $232.76. 619,584 shares of the company were exchanged, compared to its average volume of 489,066. STERIS plc has a 12 month low of $195.47 and a 12 month high of $254.00. The company has a market cap of $23.00 billion, a P/E ratio of 60.91 and a beta of 0.81. The company’s 50 day moving average price is $217.19 and its two-hundred day moving average price is $216.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.34 and a current ratio of 3.06.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $2.30 EPS. STERIS’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that STERIS plc will post 9.12 earnings per share for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.89%. STERIS’s dividend payout ratio (DPR) is 54.45%.

Institutional Trading of STERIS

A number of hedge funds and other institutional investors have recently made changes to their positions in STE. Norges Bank bought a new stake in shares of STERIS in the 4th quarter worth approximately $220,954,000. Impax Asset Management Group plc raised its holdings in shares of STERIS by 419.1% in the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after purchasing an additional 779,038 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of STERIS in the 4th quarter worth approximately $74,963,000. Sustainable Growth Advisers LP raised its holdings in shares of STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after purchasing an additional 282,387 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of STERIS by 71.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock worth $132,763,000 after purchasing an additional 252,200 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on STE shares. KeyCorp started coverage on shares of STERIS in a report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, May 10th. Piper Sandler reissued a “neutral” rating and set a $225.00 target price (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Stephens reissued an “overweight” rating and set a $250.00 target price on shares of STERIS in a research note on Friday, February 9th. Finally, TheStreet raised shares of STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and an average price target of $241.60.

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.