Swedbank AB Acquires Shares of 116,478 STERIS plc (NYSE:STE)

Swedbank AB bought a new stake in shares of STERIS plc (NYSE:STE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 116,478 shares of the medical equipment provider’s stock, valued at approximately $28,251,000. Swedbank AB owned approximately 0.12% of STERIS at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STE. American International Group Inc. raised its holdings in shares of STERIS by 1.8% in the fourth quarter. American International Group Inc. now owns 26,574 shares of the medical equipment provider’s stock valued at $5,842,000 after acquiring an additional 466 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of STERIS by 23.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after acquiring an additional 229 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in STERIS in the fourth quarter worth $710,000. Nomura Holdings Inc. acquired a new position in shares of STERIS during the fourth quarter worth $441,000. Finally, CWM LLC increased its position in STERIS by 8.6% during the 1st quarter. CWM LLC now owns 2,206 shares of the medical equipment provider’s stock valued at $496,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling

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 transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other STERIS news, 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 transaction, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. KeyCorp boosted their price objective on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Stephens restated 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $246.00.

STERIS Trading Down 0.3 %

Shares of STE stock opened at $225.99 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24. The company’s 50-day moving average price is $236.16 and its 200-day moving average price is $225.91. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 59.16 and a beta of 0.84.

STERIS (NYSE:STE) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion for 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 was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. As a group, equities analysts predict that STERIS plc will post 9.06 earnings per share for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were given a dividend of $0.57 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio is currently 59.69%.

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.