Royal Bank of Canada Has $13.05 Million Position in STERIS PLC (STE)
Royal Bank of Canada cut its stake in shares of STERIS PLC (NYSE:STE) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 160,126 shares of the medical equipment provider’s stock after selling 1,971 shares during the period. Royal Bank of Canada owned about 0.19% of STERIS PLC worth $13,051,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Private Harbour Investment Management & Counsel LLC lifted its position in STERIS PLC by 0.4% during the second quarter. Private Harbour Investment Management & Counsel LLC now owns 10,424 shares of the medical equipment provider’s stock valued at $850,000 after purchasing an additional 40 shares in the last quarter. Sawtooth Solutions LLC lifted its position in shares of STERIS PLC by 1.3% in the second quarter. Sawtooth Solutions LLC now owns 4,232 shares of the medical equipment provider’s stock valued at $345,000 after acquiring an additional 54 shares in the last quarter. Advisor Group Inc. lifted its position in shares of STERIS PLC by 1.4% in the second quarter. Advisor Group Inc. now owns 6,577 shares of the medical equipment provider’s stock valued at $506,000 after acquiring an additional 91 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of STERIS PLC by 0.9% in the second quarter. TD Asset Management Inc. now owns 23,540 shares of the medical equipment provider’s stock valued at $1,919,000 after acquiring an additional 200 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of STERIS PLC by 1.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 19,439 shares of the medical equipment provider’s stock valued at $1,585,000 after acquiring an additional 254 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.
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Several brokerages have recently commented on STE. BidaskClub downgraded STERIS PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded STERIS PLC from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Monday, October 9th. Finally, Raymond James Financial, Inc. boosted their price objective on STERIS PLC from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.00.
STERIS PLC (STE) opened at 89.49 on Friday. STERIS PLC has a 12 month low of $63.80 and a 12 month high of $91.18. The stock has a 50 day moving average price of $87.82 and a 200 day moving average price of $80.83. The stock has a market capitalization of $7.63 billion, a P/E ratio of 64.01 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. STERIS PLC had a net margin of 4.63% and a return on equity of 11.39%. The business had revenue of $608.00 million for the quarter, compared to analyst estimates of $597.66 million. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities analysts predict that STERIS PLC will post $4.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Tuesday, August 29th were paid a $0.31 dividend. The ex-dividend date was Friday, August 25th. This is a positive change from STERIS PLC’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 1.39%. STERIS PLC’s dividend payout ratio (DPR) is currently 88.57%.
In related news, Director Mohsen Sohi sold 2,744 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $85.98, for a total value of $235,929.12. Following the transaction, the director now directly owns 21,816 shares of the company’s stock, valued at approximately $1,875,739.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Karen L. Burton sold 3,270 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $85.70, for a total transaction of $280,239.00. Following the completion of the transaction, the vice president now directly owns 11,807 shares in the company, valued at $1,011,859.90. The disclosure for this sale can be found here. Insiders sold a total of 194,086 shares of company stock worth $16,953,621 over the last ninety days. 2.55% of the stock is currently owned by corporate insiders.
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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