Cramer Rosenthal Mcglynn LLC Sells 4,715 Shares of Steris PLC (NYSE:STE)

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Cramer Rosenthal Mcglynn LLC cut its holdings in Steris PLC (NYSE:STE) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 150,350 shares of the medical equipment provider’s stock after selling 4,715 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.18% of Steris worth $22,384,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Steris by 6.1% during the second quarter. BlackRock Inc. now owns 9,052,709 shares of the medical equipment provider’s stock worth $1,347,769,000 after purchasing an additional 522,254 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Steris by 9.6% during the 2nd quarter. WCM Investment Management LLC now owns 2,612,727 shares of the medical equipment provider’s stock worth $384,378,000 after purchasing an additional 229,928 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Steris by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,070,879 shares of the medical equipment provider’s stock worth $159,433,000 after purchasing an additional 58,680 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Steris by 28.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,028,709 shares of the medical equipment provider’s stock worth $153,154,000 after purchasing an additional 225,309 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Steris by 18.8% during the 2nd quarter. Northern Trust Corp now owns 1,021,599 shares of the medical equipment provider’s stock worth $152,095,000 after purchasing an additional 161,710 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Separately, JMP Securities boosted their price objective on shares of Steris from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 22nd. Five research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $148.20.

Shares of STE stock traded down $1.53 during midday trading on Friday, hitting $146.41. 7,380 shares of the company were exchanged, compared to its average volume of 455,768. The firm has a market capitalization of $11.99 billion, a P/E ratio of 29.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.87 and a current ratio of 2.41. The firm’s 50 day moving average price is $151.14 and its two-hundred day moving average price is $137.81. Steris PLC has a 52 week low of $99.14 and a 52 week high of $156.66.

Steris (NYSE:STE) last announced its earnings results on Monday, August 5th. The medical equipment provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.11 by $0.12. The business had revenue of $696.80 million during the quarter, compared to the consensus estimate of $674.12 million. Steris had a net margin of 11.22% and a return on equity of 13.80%. Steris’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 EPS. Analysts expect that Steris PLC will post 5.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.48 dividend on an annualized basis and a yield of 1.01%. This is an increase from Steris’s previous quarterly dividend of $0.34. Steris’s payout ratio is currently 30.27%.

In other news, VP Renato Tamaro sold 2,065 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $153.15, for a total value of $316,254.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 102,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $151.78, for a total transaction of $15,557,450.00. The disclosure for this sale can be found here. Insiders sold a total of 151,175 shares of company stock valued at $22,688,470 in the last three months. Insiders own 2.36% of the company’s stock.

About Steris

STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.

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Institutional Ownership by Quarter for Steris (NYSE:STE)

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