Sei Investments Co. Increases Stock Holdings in STERIS plc (NYSE:STE)

Sei Investments Co. grew its holdings in shares of STERIS plc (NYSE:STE) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,477 shares of the medical equipment provider’s stock after purchasing an additional 16,263 shares during the quarter. Sei Investments Co. owned approximately 0.16% of STERIS worth $35,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in STERIS by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after acquiring an additional 4,494 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in STERIS by 3.2% in 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 purchasing an additional 3,342 shares during the period. Caden Capital Partners LP lifted its position in STERIS by 80.0% during the fourth quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock valued at $18,096,000 after purchasing an additional 36,576 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in STERIS during the first quarter valued at about $903,000. Finally, Perpetual Ltd increased its position in STERIS by 9.3% in the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock worth $9,121,000 after buying an additional 3,437 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

Analyst Ratings Changes

STE has been the subject of a number of recent research reports. Stephens reiterated an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. KeyCorp increased their price objective 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 restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Finally, StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and an average target price of $246.00.

Insider Activity

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

STERIS Stock Up 1.0 %

Shares of STE stock opened at $239.38 on Tuesday. The company’s fifty day simple moving average is $236.63 and its two-hundred day simple moving average is $225.55. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24. The stock has a market cap of $23.66 billion, a P/E ratio of 62.66 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 (NYSE:STE) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Analysts predict that STERIS plc will post 9.05 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.95%. STERIS’s payout ratio is 59.69%.

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.