Mackenzie Financial Corp Sells 4,707 Shares of STERIS plc (NYSE:STE)

Mackenzie Financial Corp lessened its holdings in shares of STERIS plc (NYSE:STE) by 32.6% during the 2nd quarter, Holdings Channel reports. The firm owned 9,731 shares of the medical equipment provider’s stock after selling 4,707 shares during the period. Mackenzie Financial Corp’s holdings in STERIS were worth $2,136,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of STERIS by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after purchasing an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of STERIS by 3.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after acquiring an additional 3,342 shares in the last quarter. Caden Capital Partners LP boosted its position in shares of STERIS by 80.0% during the 4th quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock valued at $18,096,000 after acquiring an additional 36,576 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of STERIS in the first quarter valued at $903,000. Finally, Perpetual Ltd increased its position in STERIS by 9.3% in the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock worth $9,121,000 after purchasing an additional 3,437 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STE opened at $234.73 on Thursday. 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’s fifty day moving average price is $237.93 and its 200-day moving average price is $225.84. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The firm has a market capitalization of $23.15 billion, a PE ratio of 61.45 and a beta of 0.83.

STERIS (NYSE:STE) last posted 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $2.00 EPS. On average, equities research analysts predict that STERIS plc will post 9.06 EPS for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were paid a $0.57 dividend. This is a boost from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, September 5th. STERIS’s payout ratio is currently 59.69%.

Insider Buying and Selling

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 directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction on 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 directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction dated 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 directly owns 582 shares in the company, valued at $139,493.76. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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