Twin Capital Management Inc. Sells 2,630 Shares of Steris PLC (NYSE:STE)

Twin Capital Management Inc. cut its position in Steris PLC (NYSE:STE) by 7.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,810 shares of the medical equipment provider’s stock after selling 2,630 shares during the quarter. Twin Capital Management Inc.’s holdings in Steris were worth $4,736,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Trust N.A. raised its holdings in Steris by 2.8% in the second quarter. Raymond James Trust N.A. now owns 2,658 shares of the medical equipment provider’s stock worth $395,000 after purchasing an additional 72 shares in the last quarter. State Treasurer State of Michigan raised its holdings in Steris by 0.3% in the first quarter. State Treasurer State of Michigan now owns 30,200 shares of the medical equipment provider’s stock worth $3,867,000 after purchasing an additional 100 shares in the last quarter. Security Asset Management raised its holdings in Steris by 1.3% in the first quarter. Security Asset Management now owns 8,179 shares of the medical equipment provider’s stock worth $1,047,000 after purchasing an additional 104 shares in the last quarter. CENTRAL TRUST Co raised its holdings in Steris by 27.7% in the second quarter. CENTRAL TRUST Co now owns 590 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 128 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Steris by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 9,031 shares of the medical equipment provider’s stock worth $1,156,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 85.45% of the company’s stock.

A number of equities analysts have commented on STE shares. KeyCorp boosted their target price on shares of Steris from $135.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. JMP Securities boosted their target price on shares of Steris from $135.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 22nd. Stephens boosted their target price on shares of Steris from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded Steris from a “hold” rating to a “buy” rating and set a $146.00 price target on the stock in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $148.20.

In other news, VP Cary L. Majors sold 5,250 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $152.67, for a total transaction of $801,517.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 119,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $132.56, for a total value of $15,774,640.00. The disclosure for this sale can be found here. Insiders have sold 357,351 shares of company stock worth $50,364,268 in the last 90 days. Insiders own 2.36% of the company’s stock.

Shares of STE stock traded up $0.38 during trading hours on Friday, reaching $152.35. 11,795 shares of the company’s stock were exchanged, compared to its average volume of 417,792. Steris PLC has a 1 year low of $99.14 and a 1 year high of $156.12. The stock has a market cap of $13.16 billion, a PE ratio of 31.39 and a beta of 0.98. The company has a current ratio of 2.41, a quick ratio of 1.87 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average price is $149.97 and its two-hundred day moving average price is $133.76.

Steris (NYSE:STE) last issued its quarterly earnings results on Monday, August 5th. The medical equipment provider reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. Steris had a return on equity of 13.80% and a net margin of 11.22%. The business had revenue of $696.80 million for the quarter, compared to analyst estimates of $674.12 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts expect that Steris PLC will post 5.45 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.37 per share. This is a positive change from Steris’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, September 9th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.97%. Steris’s payout ratio is presently 27.81%.

Steris 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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