STERIS plc (NYSE:STE) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC reduced its holdings in shares of STERIS plc (NYSE:STE) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,257 shares of the medical equipment provider’s stock after selling 2,535 shares during the period. Geneva Capital Management LLC owned about 0.13% of STERIS worth $29,959,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of STERIS during the 4th quarter worth approximately $220,954,000. Impax Asset Management Group plc increased its position in 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 valued at $211,430,000 after acquiring an additional 779,038 shares during the period. APG Asset Management US Inc. purchased a new stake in STERIS during the 4th quarter valued at approximately $74,963,000. Goldman Sachs Group Inc. lifted its position in STERIS by 71.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock worth $132,763,000 after acquiring an additional 252,200 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in shares of STERIS in the fourth quarter valued at approximately $32,687,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at STERIS

In related news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of STERIS stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now owns 11,369 shares in the company, valued at approximately $2,639,085.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,762 shares of company stock valued at $1,798,477. 1.14% of the stock is owned by insiders.

STERIS Price Performance

STE traded up $2.44 during midday trading on Thursday, reaching $217.84. 487,303 shares of the company’s stock were exchanged, compared to its average volume of 493,309. STERIS plc has a 1-year low of $195.47 and a 1-year high of $254.00. The stock has a market capitalization of $21.53 billion, a PE ratio of 56.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.08 and a quick ratio of 2.36. The business’s 50-day moving average price is $222.29 and its 200 day moving average price is $221.24.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.17. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 EPS. As a group, equities analysts anticipate that STERIS plc will post 9.24 EPS for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, June 12th. STERIS’s dividend payout ratio is presently 54.45%.

Analysts Set New Price Targets

Several analysts have recently commented on STE shares. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, May 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.