Acadian Asset Management LLC Makes New $227,000 Investment in STERIS plc (NYSE:STE)

Acadian Asset Management LLC purchased a new stake in shares of STERIS plc (NYSE:STE) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,039 shares of the medical equipment provider’s stock, valued at approximately $227,000.

Several other institutional investors have also modified their holdings of STE. Russell Investments Group Ltd. raised its holdings in STERIS by 8.3% during the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after purchasing an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of STERIS by 3.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after buying an additional 3,342 shares during the last quarter. Caden Capital Partners LP boosted its position in shares of STERIS by 80.0% in the 4th quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock worth $18,096,000 after buying an additional 36,576 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of STERIS in the 1st quarter worth about $903,000. Finally, Perpetual Ltd grew its stake in STERIS by 9.3% in the 1st quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock valued at $9,121,000 after acquiring an additional 3,437 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

STE stock opened at $236.98 on Friday. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 62.04 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. The stock’s fifty day simple moving average is $236.26 and its 200-day simple moving average is $225.55.

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

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were given a dividend of $0.57 per share. This is a positive change from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, September 5th. This represents a $2.28 annualized dividend and a yield of 0.96%. STERIS’s dividend payout ratio is 59.69%.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

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.