AustralianSuper Pty Ltd Takes $1.47 Million Position in STERIS plc $STE

AustralianSuper Pty Ltd purchased a new stake in STERIS plc (NYSE:STE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,122 shares of the medical equipment provider’s stock, valued at approximately $1,471,000.

Several other institutional investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC raised its holdings in shares of STERIS by 3.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider’s stock valued at $365,000 after acquiring an additional 54 shares during the period. Taylor Frigon Capital Management LLC grew its holdings in shares of STERIS by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider’s stock valued at $1,423,000 after buying an additional 62 shares in the last quarter. Cetera Investment Advisers raised its position in STERIS by 0.9% during the first quarter. Cetera Investment Advisers now owns 6,999 shares of the medical equipment provider’s stock valued at $1,586,000 after buying an additional 63 shares during the period. Horizon Investments LLC lifted its stake in STERIS by 4.7% in the 1st quarter. Horizon Investments LLC now owns 1,410 shares of the medical equipment provider’s stock worth $320,000 after acquiring an additional 63 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT boosted its position in STERIS by 2.0% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 3,305 shares of the medical equipment provider’s stock worth $749,000 after acquiring an additional 64 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Daniel A. Carestio sold 159 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the sale, the chief executive officer owned 51,096 shares in the company, valued at approximately $12,356,034.72. This represents a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction dated 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 transaction, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $1,448,929.62. This represents a 56.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,868 shares of company stock valued at $4,585,389. 1.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STE shares. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. 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 report on Friday, August 8th. KeyCorp boosted their price target on shares of STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of STERIS in a research note on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $273.50.

STERIS Price Performance

NYSE STE opened at $240.97 on Tuesday. 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 stock has a market capitalization of $23.73 billion, a PE ratio of 36.90 and a beta of 1.01. STERIS plc has a 12-month low of $200.98 and a 12-month high of $253.00. The company has a 50 day moving average price of $244.71 and a two-hundred day moving average price of $237.57.

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

STERIS Increases Dividend

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

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.