WCM Investment Management LLC Reduces Stock Holdings in STERIS plc $STE

WCM Investment Management LLC lowered its position in STERIS plc (NYSE:STE) by 53.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,099,115 shares of the medical equipment provider’s stock after selling 2,405,472 shares during the quarter. WCM Investment Management LLC owned about 2.13% of STERIS worth $501,248,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in STERIS by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider’s stock worth $2,710,247,000 after buying an additional 46,628 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in STERIS by 9.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider’s stock worth $1,232,828,000 after buying an additional 452,146 shares during the period. Generation Investment Management LLP boosted its stake in STERIS by 5.4% during the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider’s stock worth $760,308,000 after buying an additional 170,392 shares during the period. Orbis Allan Gray Ltd purchased a new position in STERIS during the first quarter worth about $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in STERIS by 55.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider’s stock worth $344,617,000 after buying an additional 540,999 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling

In related news, CAO Karen L. Burton sold 7,900 shares of STERIS stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the transaction, the chief accounting officer owned 5,994 shares in the company, valued at $1,448,929.62. The trade was a 56.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cynthia L. Feldmann sold 3,495 shares of STERIS stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.56, for a total transaction of $844,252.20. Following the completion of the transaction, the director owned 705 shares of the company’s stock, valued at $170,299.80. This represents a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,868 shares of company stock valued at $4,585,389 over the last ninety days. 1.07% of the stock is currently owned by corporate insiders.

STERIS Trading Down 0.5%

NYSE STE opened at $236.71 on Thursday. The firm has a 50 day simple moving average of $245.05 and a 200-day simple moving average of $236.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. STERIS plc has a one year low of $200.98 and a one year high of $253.00. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 36.25 and a beta of 1.01.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 earnings per share. Equities research analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were paid a $0.63 dividend. This is an increase from STERIS’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, September 4th. STERIS’s payout ratio is presently 38.59%.

Analyst Upgrades and Downgrades

STE has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. KeyCorp increased their target price on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of STERIS in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.50.

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.