Franklin Resources Inc. Decreases Position in Steris Plc (STE)
Franklin Resources Inc. cut its holdings in shares of Steris Plc (NYSE:STE) by 11.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,133,575 shares of the medical equipment provider’s stock after selling 140,500 shares during the period. Franklin Resources Inc. owned about 1.33% of Steris Plc worth $92,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Van Cleef Asset Management Inc acquired a new position in Steris Plc during the second quarter valued at $208,000. Cigna Investments Inc. New acquired a new position in Steris Plc during the second quarter valued at $209,000. Allegis Investment Advisors LLC acquired a new position in Steris Plc during the second quarter valued at $251,000. Aureus Asset Management LLC acquired a new position in Steris Plc during the first quarter valued at $245,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Steris Plc by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,276 shares of the medical equipment provider’s stock valued at $267,000 after purchasing an additional 311 shares during the period. Institutional investors own 94.67% of the company’s stock.
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Steris Plc (NYSE:STE) opened at 87.42 on Wednesday. The firm has a market cap of $7.45 billion, a P/E ratio of 62.53 and a beta of 1.29. The firm has a 50 day moving average of $84.88 and a 200-day moving average of $77.58. Steris Plc has a 12 month low of $63.80 and a 12 month high of $88.11.
Steris Plc (NYSE:STE) last issued its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $597.66 million. Steris Plc had a net margin of 4.63% and a return on equity of 11.39%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts forecast that Steris Plc will post $4.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Tuesday, August 29th will be issued a $0.31 dividend. This is an increase from Steris Plc’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 25th. This represents a $1.24 annualized dividend and a dividend yield of 1.42%. Steris Plc’s payout ratio is presently 88.57%.
In other news, insider Kathleen Bardwell sold 3,795 shares of Steris Plc stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $82.00, for a total value of $311,190.00. Following the sale, the insider now owns 20,605 shares of the company’s stock, valued at $1,689,610. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mohsen Sohi sold 2,744 shares of Steris Plc stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $85.98, for a total transaction of $235,929.12. Following the completion of the sale, the director now directly owns 21,816 shares in the company, valued at approximately $1,875,739.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,881 shares of company stock worth $15,608,811. Insiders own 2.55% of the company’s stock.
A number of research firms recently issued reports on STE. Wellington Shields downgraded shares of Steris Plc from a “gradually accumulate” rating to a “hold” rating in a research report on Monday, June 5th. Zacks Investment Research upgraded shares of Steris Plc from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Steris Plc from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. upped their price objective on shares of Steris Plc from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Steris Plc has a consensus rating of “Buy” and an average price target of $86.75.
About Steris Plc
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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