STERIS plc (NYSE:STE) Shares Sold by Alta Capital Management LLC

Alta Capital Management LLC cut its position in STERIS plc (NYSE:STE) by 19.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,895 shares of the medical equipment provider’s stock after selling 460 shares during the period. Alta Capital Management LLC’s holdings in STERIS were worth $417,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. First Hawaiian Bank grew its stake in shares of STERIS by 0.4% in the third quarter. First Hawaiian Bank now owns 12,490 shares of the medical equipment provider’s stock valued at $2,741,000 after buying an additional 44 shares in the last quarter. Fortune Financial Advisors LLC grew its stake in shares of STERIS by 0.7% in the third quarter. Fortune Financial Advisors LLC now owns 7,022 shares of the medical equipment provider’s stock valued at $1,541,000 after buying an additional 47 shares in the last quarter. Greenleaf Trust grew its stake in shares of STERIS by 2.8% in the third quarter. Greenleaf Trust now owns 1,888 shares of the medical equipment provider’s stock valued at $414,000 after buying an additional 51 shares in the last quarter. Park Edge Advisors LLC grew its stake in shares of STERIS by 1.2% in the fourth quarter. Park Edge Advisors LLC now owns 4,409 shares of the medical equipment provider’s stock valued at $969,000 after buying an additional 51 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. grew its stake in shares of STERIS by 4.7% in the third quarter. Canandaigua National Bank & Trust Co. now owns 1,185 shares of the medical equipment provider’s stock valued at $260,000 after buying an additional 53 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Down 2.6 %

NYSE STE traded down $5.76 during trading on Monday, reaching $219.06. 67,998 shares of the company’s stock were exchanged, compared to its average volume of 418,625. The stock has a market cap of $21.65 billion, a P/E ratio of 39.37 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. The company has a 50 day moving average price of $227.15 and a two-hundred day moving average price of $219.00. STERIS plc has a 1 year low of $180.54 and a 1 year high of $254.00.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.05. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. STERIS had a return on equity of 13.67% and a net margin of 10.48%. STERIS’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.02 EPS. On average, equities research analysts anticipate that STERIS plc will post 8.67 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS’s dividend payout ratio (DPR) is currently 36.43%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STE. Stephens reiterated an “overweight” rating and issued a $250.00 target price on shares of STERIS in a report on Friday, February 9th. TheStreet upgraded STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, February 8th. KeyCorp began coverage on STERIS in a report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 target price for the company. Finally, Morgan Stanley decreased their target price on STERIS from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, December 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and a consensus target price of $239.60.

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.