State of Tennessee Treasury Department cut its stake in Steris PLC (NYSE:STE) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,933 shares of the medical equipment provider’s stock after selling 265 shares during the period. State of Tennessee Treasury Department’s holdings in Steris were worth $2,790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Bank & Trust Co purchased a new stake in Steris in the fourth quarter worth about $72,000. Sunbelt Securities Inc. purchased a new stake in Steris in the fourth quarter worth about $12,791,000. AXA lifted its holdings in Steris by 57.5% in the fourth quarter. AXA now owns 91,012 shares of the medical equipment provider’s stock worth $13,872,000 after buying an additional 33,219 shares during the period. Copeland Capital Management LLC lifted its holdings in Steris by 11.9% in the first quarter. Copeland Capital Management LLC now owns 78,210 shares of the medical equipment provider’s stock worth $10,948,000 after buying an additional 8,333 shares during the period. Finally, CIBC World Markets Inc. purchased a new stake in Steris in the first quarter worth about $1,263,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Shares of STE opened at $149.68 on Tuesday. The company has a market capitalization of $12.60 billion, a P/E ratio of 31.38 and a beta of 0.79. The company has a quick ratio of 1.91, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $156.16 and a 200 day moving average of $151.27. Steris PLC has a twelve month low of $105.69 and a twelve month high of $168.98.

Steris (NYSE:STE) last announced its quarterly earnings results on Wednesday, May 13th. The medical equipment provider reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.07. The company had revenue of $822.99 million during the quarter, compared to the consensus estimate of $788.37 million. Steris had a net margin of 13.45% and a return on equity of 16.34%. During the same quarter last year, the firm earned $1.53 earnings per share. On average, sell-side analysts expect that Steris PLC will post 5.25 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, June 11th. Steris’s dividend payout ratio (DPR) is currently 26.24%.

In related news, Director Mohsen Sohi sold 3,218 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $164.12, for a total transaction of $528,138.16. Following the completion of the sale, the director now owns 25,579 shares of the company’s stock, valued at $4,198,025.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Several brokerages have commented on STE. Stephens raised their price objective on shares of Steris from $145.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Needham & Company LLC initiated coverage on shares of Steris in a report on Tuesday, June 9th. They set a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of Steris from a “hold” rating to a “buy” rating and set a $174.00 target price for the company in a report on Friday, April 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $172.00.

Steris Company Profile

STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.

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Institutional Ownership by Quarter for Steris (NYSE:STE)

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