Ballentine Partners LLC Takes Position in STERIS plc (NYSE:STE)

Ballentine Partners LLC acquired a new position in shares of STERIS plc (NYSE:STE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 928 shares of the medical equipment provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STE. First Personal Financial Services acquired a new position in shares of STERIS during the 1st quarter worth about $25,000. J.Safra Asset Management Corp lifted its position in shares of STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 53 shares in the last quarter. Quent Capital LLC boosted its stake in shares of STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of STERIS in the first quarter worth approximately $36,000. Finally, Pingora Partners LLC purchased a new stake in shares of STERIS during the fourth quarter worth approximately $37,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

NYSE STE opened at $246.48 on Friday. The stock has a fifty day simple moving average of $232.94 and a 200-day simple moving average of $225.06. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The stock has a market cap of $24.31 billion, a PE ratio of 64.52 and a beta of 0.83. STERIS plc has a twelve month low of $195.47 and a twelve month high of $247.32.

STERIS (NYSE:STE) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. Equities analysts anticipate that STERIS plc will post 9.05 earnings per share for the current year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is currently 59.69%.

Insider Activity at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the transaction, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now directly owns 582 shares of the company’s stock, valued at $139,493.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. KeyCorp raised their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. Finally, StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

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.