STERIS plc $STE Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in STERIS plc (NYSE:STE) by 3.4% during the second quarter, HoldingsChannel.com reports. The firm owned 227,383 shares of the medical equipment provider’s stock after buying an additional 7,491 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in STERIS were worth $54,622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in STERIS by 416.0% in the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in STERIS in the first quarter valued at about $37,000. Golden State Wealth Management LLC grew its stake in STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 166 shares in the last quarter. Costello Asset Management INC purchased a new position in STERIS in the first quarter valued at about $45,000. Finally, Wayfinding Financial LLC purchased a new position in STERIS in the first quarter valued at about $46,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 0.1%

Shares of STE opened at $240.97 on Tuesday. STERIS plc has a 12-month low of $200.98 and a 12-month high of $253.00. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 36.90 and a beta of 1.01. The stock’s 50-day moving average price is $244.71 and its 200 day moving average price is $237.57.

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

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were paid a $0.63 dividend. The ex-dividend date was Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. This is an increase from STERIS’s previous quarterly dividend of $0.57. STERIS’s dividend payout ratio is currently 38.59%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on STE shares. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of STERIS in a research report on Tuesday, October 14th. KeyCorp boosted their price target on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley boosted their price target on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, STERIS presently has an average rating of “Moderate Buy” and a consensus target price of $273.50.

Insider Buying and Selling

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the 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 sale, the director directly owned 705 shares in the company, valued at $170,299.80. This represents a 83.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel A. Carestio sold 159 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $241.82, for a total value of $38,449.38. Following the sale, the chief executive officer owned 51,096 shares in the company, valued at $12,356,034.72. The trade was a 0.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,868 shares of company stock worth $4,585,389. Insiders own 1.07% of the company’s stock.

STERIS Company 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.