114,528 Shares in STERIS plc $STE Acquired by Foresight Group Ltd Liability Partnership

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 acquired a new stake in STERIS plc (NYSE:STE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 114,528 shares of the medical equipment provider's stock, valued at approximately $25,958,000. STERIS makes up about 3.8% of Foresight Group Ltd Liability Partnership's portfolio, making the stock its 12th biggest position. Foresight Group Ltd Liability Partnership owned 0.12% of STERIS at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its holdings in shares of STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Grove Bank & Trust increased its holdings in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in STERIS in the 1st quarter worth about $37,000. ORG Wealth Partners LLC bought a new position in STERIS during the 1st quarter valued at about $43,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

STERIS Stock Performance

STE opened at $244.01 on Thursday. The company has a 50 day simple moving average of $236.86 and a two-hundred day simple moving average of $232.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The firm has a market cap of $24.03 billion, a P/E ratio of 37.37 and a beta of 0.95. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. STERIS's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 EPS. Equities analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from STERIS's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, September 4th. STERIS's dividend payout ratio is currently 38.59%.

Insiders Place Their Bets

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the transaction, the chief accounting officer directly owned 5,994 shares in the company, valued at $1,448,929.62. This represents a 56.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mohsen Sohi sold 4,110 shares of the stock in a transaction that occurred 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 trade represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,709 shares of company stock worth $4,546,940. Company insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup reissued an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Morgan Stanley boosted their target price 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. Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 6th. KeyCorp lifted their price objective on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Stephens reiterated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $273.50.

STERIS Company 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.

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