Asset Management One Co. Ltd. Buys 2,500 Shares of STERIS plc (NYSE:STE)

Asset Management One Co. Ltd. grew its stake in shares of STERIS plc (NYSE:STE) by 2.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 99,798 shares of the medical equipment provider’s stock after acquiring an additional 2,500 shares during the period. Asset Management One Co. Ltd.’s holdings in STERIS were worth $22,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STE. GHP Investment Advisors Inc. grew its stake in shares of STERIS by 3.7% in the first quarter. GHP Investment Advisors Inc. now owns 61,484 shares of the medical equipment provider’s stock worth $13,935,000 after purchasing an additional 2,186 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in STERIS by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider’s stock valued at $2,029,000 after acquiring an additional 431 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in STERIS during the first quarter valued at $650,000. Harvey Investment Co. LLC boosted its position in STERIS by 18.3% during the first quarter. Harvey Investment Co. LLC now owns 66,660 shares of the medical equipment provider’s stock valued at $15,108,000 after acquiring an additional 10,300 shares during the last quarter. Finally, Running Oak Capital LLC boosted its position in STERIS by 12.1% during the first quarter. Running Oak Capital LLC now owns 66,459 shares of the medical equipment provider’s stock valued at $15,063,000 after acquiring an additional 7,183 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $2,843,909.76. This represents a 53.01% 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 17,626 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the transaction, the chief executive officer now directly owns 51,385 shares of the company’s stock, valued at $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JMP Securities upped their price target on shares of STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research report on Friday, May 16th. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 14th. Morgan Stanley upped their price target on shares of STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Jefferies Financial Group began coverage on shares of STERIS in a report on Thursday, May 29th. They set a “hold” rating and a $263.00 price objective on the stock. Finally, Citigroup reiterated an “outperform” rating on shares of STERIS in a report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.83.

STERIS Trading Up 0.4%

STE opened at $240.46 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The firm has a market capitalization of $23.65 billion, a PE ratio of 38.78 and a beta of 0.94. The company’s 50-day moving average is $235.67 and its 200 day moving average is $223.81.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The firm’s revenue was up 5.7% 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 fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS’s payout ratio is 36.77%.

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.