Insider Selling: STERIS (NYSE:STE) CEO Sells $38,449.38 in Stock

STERIS plc (NYSE:STE) CEO Daniel Carestio sold 159 shares of STERIS stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the transaction, the chief executive officer owned 51,096 shares of the company’s stock, valued at $12,356,034.72. This represents a 0.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

STERIS Price Performance

STERIS stock opened at $235.67 on Friday. The stock has a market cap of $23.21 billion, a P/E ratio of 36.09 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $244.33 and a 200-day simple moving average of $235.80. STERIS plc has a 12-month low of $200.98 and a 12-month high of $253.00.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.02. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 earnings per share. Equities analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. This is a boost from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is presently 38.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STE. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. Morgan Stanley boosted their target price on STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, August 8th. KeyCorp boosted their target price on STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of STERIS in a research note on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.50.

Institutional Investors Weigh In On STERIS

Hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC lifted its stake in shares of STERIS by 50.4% in the 1st quarter. Merit Financial Group LLC now owns 1,905 shares of the medical equipment provider’s stock worth $432,000 after acquiring an additional 638 shares during the period. Wedmont Private Capital acquired a new stake in shares of STERIS in the 1st quarter worth $241,000. Park Avenue Securities LLC lifted its stake in shares of STERIS by 12.7% in the 1st quarter. Park Avenue Securities LLC now owns 2,671 shares of the medical equipment provider’s stock worth $605,000 after acquiring an additional 302 shares during the period. Portside Wealth Group LLC lifted its position in STERIS by 18.6% in the first quarter. Portside Wealth Group LLC now owns 1,616 shares of the medical equipment provider’s stock valued at $366,000 after purchasing an additional 253 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in STERIS by 8.3% in the first quarter. Farther Finance Advisors LLC now owns 2,488 shares of the medical equipment provider’s stock valued at $562,000 after purchasing an additional 190 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

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.