Duality Advisers LP Makes New Investment in STERIS plc (NYSE:STE)

Duality Advisers LP acquired a new stake in shares of STERIS plc (NYSE:STE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,626 shares of the medical equipment provider’s stock, valued at approximately $694,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in STERIS by 70.7% in the fourth quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider’s stock worth $693,780,000 after purchasing an additional 1,556,136 shares during the period. Norges Bank acquired a new stake in STERIS in the fourth quarter worth approximately $153,900,000. Findlay Park Partners LLP acquired a new stake in STERIS in the first quarter worth approximately $100,756,000. Mackenzie Financial Corp acquired a new stake in STERIS in the first quarter worth approximately $91,086,000. Finally, Invesco Ltd. lifted its position in STERIS by 89.8% in the first quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock worth $230,645,000 after purchasing an additional 451,235 shares during the period. 92.91% of the stock is currently owned by institutional investors and hedge funds.

STERIS Price Performance

STE opened at $229.50 on Monday. The stock has a fifty day moving average of $227.50 and a 200-day moving average of $207.82. The firm has a market capitalization of $22.67 billion, a P/E ratio of 188.11 and a beta of 0.85. STERIS plc has a 12-month low of $159.21 and a 12-month high of $254.00. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 1st. The medical equipment provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.14. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.21 billion. STERIS had a return on equity of 13.75% and a net margin of 2.35%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Equities analysts forecast that STERIS plc will post 8.72 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Wednesday, September 6th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.91%. STERIS’s dividend payout ratio is 170.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on STERIS from $206.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. StockNews.com assumed coverage on STERIS in a research report on Thursday, August 17th. They set a “buy” rating for the company. Stephens increased their price objective on STERIS from $240.00 to $250.00 in a research report on Monday, July 17th. JMP Securities increased their price objective on STERIS from $240.00 to $265.00 and gave the company a “market outperform” rating in a research report on Friday, September 1st. Finally, KeyCorp increased their price objective on STERIS from $254.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Three research 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.60.

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.