Voya Investment Management LLC Reduces Stake in Steris PLC (STE)
Voya Investment Management LLC lessened its holdings in shares of Steris PLC (NYSE:STE) by 9.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 70,636 shares of the medical equipment provider’s stock after selling 7,534 shares during the period. Voya Investment Management LLC’s holdings in Steris were worth $7,417,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in Steris in the 2nd quarter worth about $384,000. Fort L.P. acquired a new position in shares of Steris in the 2nd quarter valued at $121,000. First Republic Investment Management Inc. lifted its stake in shares of Steris by 1.4% in the 2nd quarter. First Republic Investment Management Inc. now owns 42,631 shares of the medical equipment provider’s stock valued at $4,477,000 after purchasing an additional 595 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Steris by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,019 shares of the medical equipment provider’s stock valued at $3,467,000 after purchasing an additional 953 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Steris in the 2nd quarter valued at $25,843,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.
STE stock opened at $113.97 on Monday. The company has a current ratio of 2.65, a quick ratio of 2.02 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $9.64 billion, a P/E ratio of 27.46 and a beta of 1.07. Steris PLC has a 12-month low of $82.88 and a 12-month high of $117.48.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Wednesday, August 29th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, August 28th. This is an increase from Steris’s previous quarterly dividend of $0.31. Steris’s payout ratio is currently 32.77%.
In other Steris news, VP Karen L. Burton sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $114.39, for a total transaction of $148,707.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, July 13th. The stock was sold at an average price of $110.50, for a total value of $1,105,000.00. The disclosure for this sale can be found here. 2.38% of the stock is currently owned by insiders.
Several equities analysts have recently commented on STE shares. Zacks Investment Research raised Steris from a “sell” rating to a “hold” rating in a research note on Thursday. JMP Securities upped their price target on Steris from $113.00 to $125.00 and gave the company a “market outperform” rating in a research note on Thursday, August 9th. Stephens reaffirmed a “buy” rating and issued a $125.00 price target on shares of Steris in a research note on Thursday, August 9th. Finally, KeyCorp upped their price target on Steris from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Steris currently has an average rating of “Buy” and a consensus target price of $100.86.
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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