Richard Martin Steeves Sells 156,072 Shares of Steris Plc (STE) Stock
Steris Plc (NYSE:STE) Director Richard Martin Steeves sold 156,072 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $87.13, for a total value of $13,598,553.36. Following the transaction, the director now directly owns 9,362 shares in the company, valued at approximately $815,711.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Steris Plc (NYSE STE) opened at 87.09 on Thursday. Steris Plc has a one year low of $63.80 and a one year high of $88.11. The stock’s 50 day moving average price is $85.01 and its 200-day moving average price is $77.70. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 62.30 and a beta of 1.29.
Steris Plc (NYSE:STE) last released its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Steris Plc had a return on equity of 11.39% and a net margin of 4.63%. The business had revenue of $608.00 million for the quarter, compared to analyst estimates of $597.66 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. Steris Plc’s revenue was down 4.8% on a year-over-year basis. Analysts forecast that Steris Plc will post $4.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, August 25th. This is a positive change from Steris Plc’s previous quarterly dividend of $0.28. Steris Plc’s dividend payout ratio is presently 88.57%.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bragg Financial Advisors Inc bought a new stake in Steris Plc during the first quarter worth about $1,159,000. Morgan Stanley raised its holdings in Steris Plc by 28.3% during the first quarter. Morgan Stanley now owns 266,537 shares of the medical equipment provider’s stock worth $18,514,000 after acquiring an additional 58,776 shares in the last quarter. Legal & General Group Plc raised its holdings in Steris Plc by 31.0% during the first quarter. Legal & General Group Plc now owns 56,190 shares of the medical equipment provider’s stock worth $3,902,000 after acquiring an additional 13,294 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Steris Plc by 57.5% during the first quarter. Russell Investments Group Ltd. now owns 132,035 shares of the medical equipment provider’s stock worth $9,171,000 after acquiring an additional 48,188 shares in the last quarter. Finally, Washington Capital Management Inc. raised its holdings in Steris Plc by 35.6% during the first quarter. Washington Capital Management Inc. now owns 8,000 shares of the medical equipment provider’s stock worth $556,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.
STE has been the topic of a number of analyst reports. Zacks Investment Research raised Steris Plc from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Raymond James Financial, Inc. increased their price objective on Steris Plc from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. BidaskClub lowered Steris Plc from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Wellington Shields lowered Steris Plc from a “gradually accumulate” rating to a “hold” rating in a report on Monday, June 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $86.75.
About Steris Plc
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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