Geneva Capital Management LLC Sells 2,535 Shares of STERIS plc (NYSE:STE)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of STERIS in the fourth quarter valued at $220,954,000. Impax Asset Management Group plc grew its stake in shares of STERIS by 419.1% during the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock valued at $211,430,000 after purchasing an additional 779,038 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in shares of STERIS in the fourth quarter valued at approximately $74,963,000. Goldman Sachs Group Inc. raised its position in 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 during the last quarter. Finally, Artemis Investment Management LLP bought a new position in STERIS in the 4th quarter valued at $32,687,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Up 1.1 %

STE stock traded up $2.44 during mid-day trading on Thursday, reaching $217.84. The company had a trading volume of 487,303 shares, compared to its average volume of 493,309. STERIS plc has a 52 week low of $195.47 and a 52 week high of $254.00. The company has a market capitalization of $21.53 billion, a price-to-earnings 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 stock has a 50 day simple moving average of $222.29 and a two-hundred day simple moving average of $221.24.

STERIS (NYSE:STE) last posted 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 return on equity of 13.73% and a net margin of 6.95%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $2.30 earnings per share. STERIS’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that STERIS plc will post 9.24 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. STERIS’s dividend payout ratio is currently 54.45%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, May 10th. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, May 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 price target (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, STERIS currently has an average rating of “Moderate Buy” and a consensus target price of $241.60.

Insider Buying and Selling

In other news, Director Jacqueline B. Kosecoff sold 4,584 shares of STERIS stock in a transaction on Monday, May 13th. The stock was sold at an average price of $231.53, for a total transaction of $1,061,333.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Cary L. Majors sold 2,024 shares of the business’s 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 transaction, the senior vice president now owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 90 days, insiders sold 7,762 shares of company stock valued at $1,798,477. Company insiders own 1.14% of the company’s stock.

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.