Dimensional Fund Advisors LP Boosts Stock Position in STERIS plc (NYSE:STE)

Dimensional Fund Advisors LP lifted its holdings in STERIS plc (NYSE:STE) by 12.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 840,194 shares of the medical equipment provider’s stock after purchasing an additional 95,412 shares during the quarter. Dimensional Fund Advisors LP owned 0.85% of STERIS worth $184,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Taylor Frigon Capital Management LLC boosted its stake in STERIS by 0.8% during the second quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after buying an additional 46 shares during the period. First Hawaiian Bank boosted its stake in STERIS by 0.4% during the first quarter. First Hawaiian Bank now owns 13,857 shares of the medical equipment provider’s stock worth $3,115,000 after buying an additional 50 shares during the period. J.Safra Asset Management Corp boosted its stake in STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares during the period. Mather Group LLC. boosted its stake in STERIS by 7.6% during the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock worth $172,000 after buying an additional 54 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in STERIS by 16.5% during the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock worth $82,000 after buying an additional 57 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of STERIS stock opened at $239.46 on Friday. The company has a market capitalization of $23.62 billion, a PE ratio of 62.69 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. The company has a 50-day simple moving average of $235.95 and a two-hundred day simple moving average of $225.52. STERIS plc has a one year low of $195.47 and a one year high of $248.24.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion during 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 firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. Research analysts expect that STERIS plc will post 9.05 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be paid 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 of this dividend is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.95%. STERIS’s payout ratio is presently 59.69%.

Insider Transactions at STERIS

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 sale, the director now owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the director now owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Wall Street Analyst Weigh In

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

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.