Steph & Co. Lowers Stock Holdings in STERIS plc $STE

Steph & Co. trimmed its holdings in STERIS plc (NYSE:STE) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 784 shares of the medical equipment provider’s stock after selling 76 shares during the period. Steph & Co.’s holdings in STERIS were worth $188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd acquired a new stake in STERIS in the 1st quarter valued at $349,950,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of STERIS by 55.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider’s stock worth $344,617,000 after buying an additional 540,999 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of STERIS by 9.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider’s stock worth $1,232,828,000 after buying an additional 452,146 shares during the period. GAMMA Investing LLC grew its stake in shares of STERIS by 35,759.9% in the first quarter. GAMMA Investing LLC now owns 410,237 shares of the medical equipment provider’s stock valued at $92,980,000 after buying an additional 409,093 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of STERIS during the 1st quarter valued at about $65,435,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Buying and Selling at STERIS

In other news, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.56, for a total transaction of $844,252.20. Following the sale, the director directly owned 705 shares in the company, valued at approximately $170,299.80. This represents a 83.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Renato Tamaro sold 3,204 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the completion of the sale, the vice president directly owned 7,221 shares in the company, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,709 shares of company stock worth $4,546,940 in the last ninety days. Insiders own 1.07% of the company’s stock.

STERIS Trading Down 0.7%

STE opened at $244.37 on Friday. STERIS plc has a 12-month low of $200.98 and a 12-month high of $253.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The stock has a market capitalization of $24.07 billion, a PE ratio of 37.42 and a beta of 0.95. The firm’s fifty day moving average price is $240.84 and its 200 day moving average price is $234.46.

STERIS (NYSE:STE) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 EPS. As a group, research analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is currently 38.59%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STE. Morgan Stanley upped their price target on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Jefferies Financial Group initiated coverage on shares of STERIS in a research report on Thursday, May 29th. They set a “hold” rating and a $263.00 target price on the stock. Wall Street Zen upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Finally, KeyCorp lifted their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

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.