Bank of Montreal Can Increases Holdings in STERIS plc (NYSE:STE)

Bank of Montreal Can increased its stake in STERIS plc (NYSE:STE) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,452 shares of the medical equipment provider’s stock after acquiring an additional 624 shares during the period. Bank of Montreal Can owned approximately 0.10% of STERIS worth $22,285,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in STE. First Personal Financial Services purchased a new position in shares of STERIS in the 1st quarter worth approximately $25,000. J.Safra Asset Management Corp lifted its position in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares during the last quarter. Quent Capital LLC boosted its stake in 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 buying an additional 71 shares during the period. Headlands Technologies LLC bought a new position in STERIS during the first quarter valued at $36,000. Finally, Versant Capital Management Inc raised its stake in shares of STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 181 shares during the period. 94.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STE has been the subject of a number of recent analyst reports. KeyCorp lifted their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Stephens restated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Finally, StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $246.00.

STERIS Stock Performance

STE stock opened at $239.05 on Friday. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 62.58 and a beta of 0.83. STERIS plc has a one year low of $195.47 and a one year high of $248.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. The firm has a 50-day simple moving average of $237.22 and a two-hundred day simple moving average of $225.73.

STERIS (NYSE:STE) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned $2.00 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts forecast that STERIS plc will post 9.05 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were issued a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. STERIS’s payout ratio is presently 59.69%.

Insiders Place Their Bets

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

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.