Headlands Technologies LLC Acquires 122 Shares of STERIS plc (NYSE:STE)

Headlands Technologies LLC lifted its holdings in shares of STERIS plc (NYSE:STE) by 76.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 282 shares of the medical equipment provider’s stock after purchasing an additional 122 shares during the quarter. Headlands Technologies LLC’s holdings in STERIS were worth $62,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STE. Vanguard Group Inc. raised its holdings in STERIS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock valued at $2,608,434,000 after acquiring an additional 53,526 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in STERIS by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after purchasing an additional 120,616 shares during the period. Sustainable Growth Advisers LP grew its stake in STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after buying an additional 282,387 shares in the last quarter. Impax Asset Management Group plc grew its stake in STERIS by 29.7% during the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after buying an additional 263,383 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of STERIS by 0.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,017,888 shares of the medical equipment provider’s stock valued at $223,467,000 after buying an additional 8,601 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at STERIS

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

STERIS Price Performance

STERIS stock opened at $243.68 on Tuesday. The company has a market capitalization of $24.09 billion, a PE ratio of 63.79 and a beta of 0.83. 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 50-day moving average price of $234.49 and a two-hundred day moving average price of $225.27. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned $2.00 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Analysts expect that STERIS plc will post 9.05 EPS for the current year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a $0.57 dividend. This is a boost from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. STERIS’s payout ratio is currently 59.69%.

STERIS 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.