Alpha Cubed Investments LLC Trims Stock Holdings in STERIS plc (NYSE:STE)

Alpha Cubed Investments LLC lowered its stake in STERIS plc (NYSE:STE) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the medical equipment provider’s stock after selling 500 shares during the quarter. Alpha Cubed Investments LLC’s holdings in STERIS were worth $364,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of STERIS by 31.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,325 shares of the medical equipment provider’s stock worth $321,000 after acquiring an additional 317 shares during the last quarter. Czech National Bank raised its position in STERIS by 6.7% in the third quarter. Czech National Bank now owns 20,089 shares of the medical equipment provider’s stock valued at $4,872,000 after purchasing an additional 1,260 shares during the period. Handelsbanken Fonder AB lifted its stake in STERIS by 3.2% during the third quarter. Handelsbanken Fonder AB now owns 57,861 shares of the medical equipment provider’s stock worth $14,034,000 after purchasing an additional 1,778 shares in the last quarter. Cullen Investment Group LTD. boosted its position in shares of STERIS by 1.8% during the third quarter. Cullen Investment Group LTD. now owns 6,728 shares of the medical equipment provider’s stock worth $1,632,000 after buying an additional 117 shares during the period. Finally, Central Valley Advisors LLC boosted its position in shares of STERIS by 3.0% during the third quarter. Central Valley Advisors LLC now owns 5,573 shares of the medical equipment provider’s stock worth $1,352,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.00.

STERIS Trading Up 0.5 %

Shares of NYSE:STE opened at $227.22 on Wednesday. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24. The company’s 50 day moving average is $237.60 and its two-hundred day moving average is $225.79. The company has a market cap of $22.46 billion, a PE ratio of 59.48 and a beta of 0.84. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. STERIS’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $2.00 earnings per share. Equities analysts predict that STERIS plc will post 9.06 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio (DPR) is presently 59.69%.

Insider Transactions at STERIS

In related news, Director Christopher S. Holland sold 473 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the transaction, the director now directly owns 582 shares of the company’s stock, valued at $139,493.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the transaction, the director now owns 582 shares in the company, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

STERIS 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.