Westfield Capital Management Co. LP Cuts Holdings in STERIS PLC (STE)
Westfield Capital Management Co. LP lowered its stake in shares of STERIS PLC (NYSE:STE) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,236,352 shares of the medical equipment provider’s stock after selling 155,149 shares during the period. STERIS PLC makes up approximately 1.6% of Westfield Capital Management Co. LP’s portfolio, making the stock its 6th biggest holding. Westfield Capital Management Co. LP owned approximately 2.63% of STERIS PLC worth $182,263,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Janus Capital Management LLC raised its stake in STERIS PLC by 0.4% during the first quarter. Janus Capital Management LLC now owns 8,669,694 shares of the medical equipment provider’s stock worth $602,192,000 after purchasing an additional 33,758 shares during the period. BlackRock Inc. raised its stake in STERIS PLC by 33.4% during the second quarter. BlackRock Inc. now owns 7,032,984 shares of the medical equipment provider’s stock worth $573,188,000 after purchasing an additional 1,760,879 shares during the period. Wellington Management Group LLP raised its stake in STERIS PLC by 77.8% during the first quarter. Wellington Management Group LLP now owns 6,529,610 shares of the medical equipment provider’s stock worth $453,547,000 after purchasing an additional 2,856,744 shares during the period. FMR LLC raised its stake in STERIS PLC by 9.6% during the first quarter. FMR LLC now owns 2,595,305 shares of the medical equipment provider’s stock worth $180,270,000 after purchasing an additional 226,303 shares during the period. Finally, Principal Financial Group Inc. raised its stake in STERIS PLC by 115.1% during the second quarter. Principal Financial Group Inc. now owns 1,911,958 shares of the medical equipment provider’s stock worth $155,825,000 after purchasing an additional 1,023,035 shares during the period. 94.67% of the stock is currently owned by institutional investors.
In other STERIS PLC news, Director Richard Martin Steeves sold 156,072 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 9,362 shares of the company’s stock, valued at $815,711.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael B. Wood sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $81.50, for a total transaction of $326,000.00. Following the completion of the sale, the director now directly owns 26,131 shares of the company’s stock, valued at $2,129,676.50. The disclosure for this sale can be found here. Insiders sold 176,086 shares of company stock valued at $15,297,621 over the last three months. Insiders own 2.55% of the company’s stock.
STE has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of STERIS PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of STERIS PLC from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Tuesday, July 11th. Wellington Shields downgraded shares of STERIS PLC from a “gradually accumulate” rating to a “hold” rating in a research note on Monday, June 5th. Finally, Raymond James Financial, Inc. raised their target price on shares of STERIS PLC from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. STERIS PLC has an average rating of “Buy” and a consensus price target of $86.75.
Shares of STERIS PLC (NYSE:STE) traded down 0.18% during trading on Friday, hitting $86.64. 390,934 shares of the stock were exchanged. STERIS PLC has a 12-month low of $63.80 and a 12-month high of $88.11. The stock’s 50 day moving average is $85.38 and its 200-day moving average is $77.95. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 61.97 and a beta of 1.29.
STERIS PLC (NYSE:STE) last posted its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The company had revenue of $608.00 million during the quarter, compared to the consensus estimate of $597.66 million. STERIS PLC had a net margin of 4.63% and a return on equity of 11.39%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities research analysts anticipate that STERIS PLC will post $4.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Tuesday, August 29th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.43%. This is an increase from STERIS PLC’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 25th. STERIS PLC’s payout ratio is currently 88.57%.
STERIS PLC Profile
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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