Bayforest Capital Ltd Buys 535 Shares of STERIS plc (NYSE:STE)

Bayforest Capital Ltd lifted its stake in shares of STERIS plc (NYSE:STE) by 1,783.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 565 shares of the medical equipment provider’s stock after acquiring an additional 535 shares during the quarter. Bayforest Capital Ltd’s holdings in STERIS were worth $128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STE. Schroder Investment Management Group boosted its position in shares of STERIS by 2.7% in the fourth quarter. Schroder Investment Management Group now owns 8,384 shares of the medical equipment provider’s stock worth $1,719,000 after purchasing an additional 223 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of STERIS by 18.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,851 shares of the medical equipment provider’s stock valued at $807,000 after buying an additional 606 shares in the last quarter. Wellington Management Group LLP boosted its holdings in STERIS by 4,534.6% in the 4th quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider’s stock worth $45,024,000 after buying an additional 214,306 shares during the period. HighPoint Advisor Group LLC purchased a new stake in STERIS in the 4th quarter worth $201,000. Finally, National Bank of Canada FI increased its stake in STERIS by 16.3% in the 4th quarter. National Bank of Canada FI now owns 46,221 shares of the medical equipment provider’s stock worth $9,501,000 after buying an additional 6,486 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of NYSE:STE opened at $226.69 on Friday. The firm has a fifty day simple moving average of $235.55 and a two-hundred day simple moving average of $228.12. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $22.30 billion, a P/E ratio of 36.56 and a beta of 0.92.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $2.58 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. This is an increase from STERIS’s previous quarterly dividend of $0.57. STERIS’s dividend payout ratio is presently 36.77%.

Insider Activity at STERIS

In other news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the sale, the chief executive officer owned 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Cary L. Majors sold 12,828 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president owned 11,372 shares of the company’s stock, valued at $2,843,909.76. This trade represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on STE shares. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Morgan Stanley raised STERIS from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $260.00 to $276.00 in a report on Tuesday, July 15th. JMP Securities upped their price target on STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Finally, KeyCorp upped their target price on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $270.33.

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.