Jump Financial LLC Sells 3,424 Shares of STERIS plc $STE

Jump Financial LLC lowered its stake in shares of STERIS plc (NYSE:STE) by 70.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,409 shares of the medical equipment provider’s stock after selling 3,424 shares during the quarter. Jump Financial LLC’s holdings in STERIS were worth $319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STE. Grove Bank & Trust boosted its holdings in STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 142 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in STERIS during the first quarter worth about $37,000. ORG Wealth Partners LLC bought a new position in STERIS during the first quarter worth about $43,000. Golden State Wealth Management LLC boosted its holdings in STERIS by 503.0% during the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 166 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in STERIS during the first quarter worth about $45,000. Institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. KeyCorp raised their price target on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. JMP Securities raised their price target on STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Stephens reaffirmed an “overweight” rating and set a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. Finally, Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

Insiders Place Their Bets

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the transaction, the chief executive officer owned 51,385 shares of the company’s stock, valued at $12,463,945.60. The trade was a 25.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia L. Feldmann sold 3,495 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.56, for a total value of $844,252.20. Following the transaction, the director directly owned 705 shares in the company, valued at $170,299.80. This trade represents a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,335 shares of company stock worth $8,822,302 in the last 90 days. Company insiders own 1.07% of the company’s stock.

STERIS Stock Down 1.3%

Shares of STERIS stock opened at $241.93 on Wednesday. The business’s 50 day simple moving average is $236.19 and its 200 day simple moving average is $231.76. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The firm has a market cap of $23.83 billion, a PE ratio of 37.05 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $2.03 EPS. STERIS’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. This is a boost from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is 34.92%.

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.