Select Equity Group L.P. Raises Holdings in STERIS plc (NYSE:STE)

Select Equity Group L.P. lifted its stake in STERIS plc (NYSE:STE) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 732,848 shares of the medical equipment provider’s stock after purchasing an additional 16,492 shares during the quarter. Select Equity Group L.P. owned about 0.74% of STERIS worth $160,889,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of STERIS by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 61,732 shares of the medical equipment provider’s stock worth $13,553,000 after buying an additional 2,562 shares during the period. MBB Public Markets I LLC purchased a new position in STERIS in the 2nd quarter worth $1,563,000. APG Asset Management US Inc. lifted its position in STERIS by 2.3% during the 2nd quarter. APG Asset Management US Inc. now owns 28,704 shares of the medical equipment provider’s stock worth $6,273,000 after acquiring an additional 647 shares during the period. AQR Capital Management LLC grew its stake in STERIS by 29.1% during the 2nd quarter. AQR Capital Management LLC now owns 15,094 shares of the medical equipment provider’s stock valued at $3,276,000 after purchasing an additional 3,398 shares during the last quarter. Finally, NBW Capital LLC increased its holdings in shares of STERIS by 3.4% in the second quarter. NBW Capital LLC now owns 29,105 shares of the medical equipment provider’s stock valued at $6,390,000 after purchasing an additional 966 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on STE. KeyCorp lifted their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Stephens reissued an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, STERIS currently has an average rating of “Moderate Buy” and an average target price of $246.00.

STERIS Price Performance

Shares of STE stock opened at $236.65 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The company has a market capitalization of $23.34 billion, a PE ratio of 61.95 and a beta of 0.83. The firm’s 50-day moving average is $237.22 and its two-hundred day moving average is $225.73. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24.

STERIS (NYSE:STE) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 EPS. Analysts predict that STERIS plc will post 9.05 earnings per share for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, September 5th. STERIS’s payout ratio is 59.69%.

Insider Transactions at STERIS

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

STERIS Company 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.