Dai ichi Life Insurance Company Ltd Sells 611 Shares of STERIS plc (NYSE:STE)

Dai ichi Life Insurance Company Ltd decreased its holdings in STERIS plc (NYSE:STE) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,389 shares of the medical equipment provider’s stock after selling 611 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in STERIS were worth $2,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Personal Financial Services purchased a new position in STERIS in the 1st quarter worth about $25,000. J.Safra Asset Management Corp increased its position in shares of STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 53 shares during the period. Quent Capital LLC increased its position in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares during the period. Headlands Technologies LLC bought a new stake in shares of STERIS during the first quarter valued at approximately $36,000. Finally, Pingora Partners LLC purchased a new stake in shares of STERIS in the fourth quarter valued at approximately $37,000. 94.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

STERIS Price Performance

STE opened at $244.83 on Monday. The firm has a market capitalization of $24.20 billion, a PE ratio of 64.09 and a beta of 0.83. The business’s 50-day moving average is $234.02 and its two-hundred day moving average is $225.20. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49.

STERIS (NYSE:STE) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) 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 return on equity of 13.85% and a net margin of 7.36%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. Research analysts anticipate that STERIS plc will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.57 per share. This is a positive change from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.93%. STERIS’s payout ratio is presently 59.69%.

Wall Street Analyst Weigh In

Several research analysts have commented on STE shares. KeyCorp raised their price objective on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Stephens reissued an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

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.