Brinker Capital Investments LLC trimmed its stake in STERIS plc (NYSE:STE) by 39.9% during the first quarter, Holdings Channel reports. The fund owned 45,091 shares of the medical equipment provider’s stock after selling 29,980 shares during the quarter. Brinker Capital Investments LLC’s holdings in STERIS were worth $8,589,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the stock. California Public Employees Retirement System increased its position in STERIS by 4.8% in the 4th quarter. California Public Employees Retirement System now owns 202,018 shares of the medical equipment provider’s stock worth $38,290,000 after buying an additional 9,315 shares during the period. KBC Group NV increased its position in STERIS by 30.6% in the 1st quarter. KBC Group NV now owns 39,595 shares of the medical equipment provider’s stock worth $7,542,000 after buying an additional 9,287 shares during the period. Oak Ridge Investments LLC increased its position in STERIS by 973.8% in the 1st quarter. Oak Ridge Investments LLC now owns 66,405 shares of the medical equipment provider’s stock worth $12,649,000 after buying an additional 60,221 shares during the period. Paloma Partners Management Co increased its position in STERIS by 175.2% in the 4th quarter. Paloma Partners Management Co now owns 12,693 shares of the medical equipment provider’s stock worth $2,406,000 after buying an additional 8,080 shares during the period. Finally, Swiss National Bank increased its position in STERIS by 2.1% in the 1st quarter. Swiss National Bank now owns 328,185 shares of the medical equipment provider’s stock worth $62,513,000 after buying an additional 6,700 shares during the period. 94.16% of the stock is currently owned by institutional investors and hedge funds.
STE opened at $198.23 on Friday. The company has a market capitalization of $16.92 billion, a PE ratio of 43.00 and a beta of 0.55. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42. STERIS plc has a 1 year low of $146.12 and a 1 year high of $216.74. The company’s 50 day moving average price is $200.79.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Friday, May 28th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, May 27th. STERIS’s dividend payout ratio is 25.93%.
Several research analysts have commented on STE shares. JMP Securities lifted their price target on STERIS from $217.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Monday, May 17th. Zacks Investment Research downgraded STERIS from a “buy” rating to a “hold” rating and set a $227.00 price target on the stock. in a research report on Tuesday, April 27th. Needham & Company LLC upgraded STERIS from a “hold” rating to a “buy” rating and set a $233.00 price objective on the stock in a research report on Wednesday, May 26th. Finally, KeyCorp boosted their price objective on STERIS from $224.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, March 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $225.33.
In related news, Director Cynthia L. Feldmann sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 25th. The stock was sold at an average price of $190.84, for a total value of $763,360.00. Following the sale, the director now owns 2,815 shares of the company’s stock, valued at approximately $537,214.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacqueline B. Kosecoff sold 3,121 shares of the business’s stock in a transaction on Friday, May 21st. The shares were sold at an average price of $192.59, for a total value of $601,073.39. Following the completion of the sale, the director now directly owns 3,121 shares in the company, valued at approximately $601,073.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,121 shares of company stock worth $1,789,433. 1.20% of the stock is owned by insiders.
STERIS plc provides infection prevention and other procedural products and services worldwide. It operates in three segments: Healthcare, Applied Sterilization Technologies, and Life Sciences. The Healthcare segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, 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.
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