MBB Public Markets I LLC Takes $1.56 Million Position in STERIS plc (NYSE:STE)

MBB Public Markets I LLC acquired a new position in shares of STERIS plc (NYSE:STE) during the second quarter, HoldingsChannel reports. The fund acquired 7,120 shares of the medical equipment provider’s stock, valued at approximately $1,563,000.

A number of other hedge funds have also recently added to or reduced their stakes in STE. Vanguard Group Inc. lifted its position in shares of STERIS by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock worth $2,608,434,000 after purchasing an additional 53,526 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of STERIS by 13.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after buying an additional 778,613 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of STERIS by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after acquiring an additional 120,616 shares during the period. Sustainable Growth Advisers LP lifted its stake in shares of STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after acquiring an additional 282,387 shares during the period. Finally, Impax Asset Management Group plc increased its position in STERIS by 29.7% in the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after purchasing an additional 263,383 shares during the period. Institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling at STERIS

In related news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction on 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 directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other STERIS news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction 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 $10,603,710. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

STERIS Trading Up 1.0 %

Shares of NYSE STE opened at $239.05 on Monday. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 62.58 and a beta of 0.83. 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 company’s fifty day moving average is $237.51 and its 200-day moving average is $225.71.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) 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 company’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 earnings per share. Equities research analysts predict that STERIS plc will post 9.05 EPS for the current year.

STERIS Increases Dividend

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

Wall Street Analyst Weigh In

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