MQS Management LLC Takes Position in STERIS plc (NYSE:STE)

MQS Management LLC bought a new position in shares of STERIS plc (NYSE:STE) during the second quarter, according to its most recent filing with the SEC. The fund bought 1,435 shares of the medical equipment provider’s stock, valued at approximately $315,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in STERIS by 13.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after acquiring an additional 778,613 shares during the period. APG Asset Management US Inc. bought a new stake in shares of STERIS in the 4th quarter worth approximately $74,963,000. Sustainable Growth Advisers LP raised its holdings in shares of STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after purchasing an additional 282,387 shares during the period. Impax Asset Management Group plc grew its holdings 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 valued at $251,663,000 after purchasing an additional 263,383 shares during the period. Finally, American Century Companies Inc. increased its position in STERIS by 1,946.3% in the second quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock worth $59,344,000 after buying an additional 257,101 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Trading Down 1.0 %

Shares of STERIS stock opened at $236.98 on Friday. The company’s 50-day moving average price is $236.26 and its 200-day moving average price is $225.55. The company has a market cap of $23.43 billion, a price-to-earnings ratio of 62.04 and a beta of 0.83. STERIS plc has a 12-month low of $195.47 and a 12-month high of $248.24. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share 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 firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts expect that STERIS plc will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

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

Analyst Ratings Changes

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

Insider Activity at STERIS

In other 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on 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 completion of 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 accessible through this link. Also, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of 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 owned by insiders.

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.