Assenagon Asset Management S.A. Sells 8,912 Shares of STERIS plc (NYSE:STE)

Assenagon Asset Management S.A. decreased its position in shares of STERIS plc (NYSE:STE) by 68.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,120 shares of the medical equipment provider’s stock after selling 8,912 shares during the quarter. Assenagon Asset Management S.A.’s holdings in STERIS were worth $905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of STE. Comprehensive Financial Consultants Institutional Inc. lifted its stake in STERIS by 15.3% in the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,862 shares of the medical equipment provider’s stock valued at $1,946,000 after buying an additional 1,177 shares in the last quarter. Westside Investment Management Inc. lifted its stake in STERIS by 3.8% in the second quarter. Westside Investment Management Inc. now owns 3,510 shares of the medical equipment provider’s stock valued at $771,000 after buying an additional 128 shares in the last quarter. Hengehold Capital Management LLC bought a new position in STERIS in the second quarter valued at approximately $204,000. Oak Ridge Investments LLC lifted its stake in STERIS by 4.7% in the second quarter. Oak Ridge Investments LLC now owns 24,255 shares of the medical equipment provider’s stock valued at $5,325,000 after buying an additional 1,097 shares in the last quarter. Finally, ORG Partners LLC bought a new position in STERIS in the second quarter valued at approximately $76,000. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of STE opened at $234.14 on Friday. The company has a market cap of $23.09 billion, a price-to-earnings ratio of 61.29 and a beta of 0.83. STERIS plc has a 1-year low of $195.47 and a 1-year high of $243.37. The company’s fifty day simple moving average is $226.58 and its 200 day simple moving average is $223.93. 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 issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $2.00 earnings per share. On average, research analysts forecast that STERIS plc will post 9.17 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 20th. Investors of record on Thursday, September 5th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.97%. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is presently 54.45%.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the transaction, the director now directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a filing with the SEC, which is available through this link. 1.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on STE shares. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Stephens reaffirmed an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective (up from $220.00) on shares of STERIS in a report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $243.60.

About STERIS

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.