Foresight Group Ltd Liability Partnership Purchases New Stake in STERIS plc $STE

Key Points

• Foresight Group Ltd Liability Partnership has acquired 114,528 shares of STERIS plc, valued at approximately $25.96 million, making it the 12th largest position in their portfolio.
• STERIS reported an earnings per share of $2.34 for the last quarter, surpassing analysts' expectations, with revenues increasing by 8.8% year-over-year.
• The company announced an increase in its quarterly dividend to $0.63, effective September 26th, which represents an annual yield of 1.0%.

Foresight Group Ltd Liability Partnership purchased a new position in shares of STERIS plc (NYSE:STE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 114,528 shares of the medical equipment provider's stock, valued at approximately $25,958,000. STERIS comprises approximately 3.8% of Foresight Group Ltd Liability Partnership's portfolio, making the stock its 12th largest position. Foresight Group Ltd Liability Partnership owned about 0.12% of STERIS at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of STERIS by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock worth $2,710,247,000 after purchasing an additional 46,628 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in STERIS by 9.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after acquiring an additional 452,146 shares during the last quarter. Generation Investment Management LLP grew its holdings in STERIS by 5.4% during the 1st quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock worth $760,308,000 after acquiring an additional 170,392 shares during the last quarter. Select Equity Group L.P. grew its holdings in STERIS by 165.3% during the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after acquiring an additional 1,619,796 shares during the last quarter. Finally, Orbis Allan Gray Ltd bought a new stake in shares of STERIS during the first quarter valued at approximately $349,950,000. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Up 0.4%

NYSE STE traded up $0.94 during trading on Tuesday, hitting $248.75. The stock had a trading volume of 144,825 shares, compared to its average volume of 589,630. The company's 50-day moving average price is $237.70 and its two-hundred day moving average price is $233.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The company has a market capitalization of $24.50 billion, a PE ratio of 38.05 and a beta of 0.95. STERIS plc has a 12 month low of $200.98 and a 12 month high of $253.00.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $2.03 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is currently 38.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on STE shares. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday. Morgan Stanley raised their price objective on shares of STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Jefferies Financial Group began coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Finally, KeyCorp lifted their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $273.50.

Insider Activity

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the sale, the director directly owned 22,361 shares of the company's stock, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Karen L. Burton sold 7,900 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the sale, the chief accounting officer directly owned 5,994 shares in the company, valued at $1,448,929.62. This trade represents a 56.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,709 shares of company stock valued at $4,546,940. 1.07% of the stock is 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.