Kimelman & Baird LLC Makes New Investment in STERIS plc (NYSE:STE)

Kimelman & Baird LLC purchased a new position in STERIS plc (NYSE:STE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,407 shares of the medical equipment provider’s stock, valued at approximately $6,456,000.

Several other large investors also recently made changes to their positions in STE. Northwestern Mutual Wealth Management Co. lifted its holdings in STERIS by 7.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the medical equipment provider’s stock worth $448,000 after purchasing an additional 144 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of STERIS by 22.9% during the 2nd quarter. NewEdge Advisors LLC now owns 5,139 shares of the medical equipment provider’s stock worth $1,128,000 after buying an additional 956 shares during the period. Nemes Rush Group LLC grew its stake in STERIS by 3.1% in the 2nd quarter. Nemes Rush Group LLC now owns 25,524 shares of the medical equipment provider’s stock valued at $5,603,000 after buying an additional 769 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in STERIS in the 2nd quarter worth $1,684,000. Finally, Select Equity Group L.P. lifted its position in STERIS by 2.3% during the 2nd quarter. Select Equity Group L.P. now owns 732,848 shares of the medical equipment provider’s stock worth $160,889,000 after acquiring an additional 16,492 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 1.0 %

Shares of STE stock opened at $239.05 on Monday. The company has a market capitalization of $23.63 billion, a P/E ratio of 62.58 and a beta of 0.83. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $237.51 and a 200 day moving average price of $225.71.

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, beating analysts’ consensus estimates of $1.98 by $0.16. The firm 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 business’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $2.00 EPS. Research analysts forecast that STERIS plc will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, September 5th. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is 59.69%.

Insider Activity at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction 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 sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher S. Holland sold 473 shares of the company’s 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 owns 582 shares in the company, valued at approximately $139,493.76. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.