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2,016 Shares in STERIS plc $STE Acquired by DAVENPORT & Co LLC

STERIS logo with Medical background

Key Points

  • DAVENPORT & Co LLC has acquired 2,016 shares of STERIS plc, valued at approximately $484,000, during the second quarter.
  • STERIS recently declared a quarterly dividend increase from $0.57 to $0.63 per share, representing an annualized dividend of $2.52 and a yield of 1.1%.
  • Analysts have rated STERIS as a "Moderate Buy" with an average price target of $273.50, while recent reports indicate the stock price opened at $235.67.
  • MarketBeat previews top five stocks to own in November.

DAVENPORT & Co LLC purchased a new stake in STERIS plc (NYSE:STE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,016 shares of the medical equipment provider's stock, valued at approximately $484,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in STERIS by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock valued at $2,710,247,000 after acquiring an additional 46,628 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in STERIS by 9.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock valued at $1,232,828,000 after acquiring an additional 452,146 shares in the last quarter. Generation Investment Management LLP lifted its position in STERIS by 5.4% in the 1st quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock valued at $760,308,000 after acquiring an additional 170,392 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in STERIS in the 1st quarter valued at about $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in STERIS by 55.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider's stock valued at $344,617,000 after acquiring an additional 540,999 shares in the last quarter. Institutional investors own 94.69% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of STERIS in a research report on Saturday, September 27th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. KeyCorp lifted their target price on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $273.50.

Get Our Latest Stock Analysis on STERIS

STERIS Stock Down 1.6%

STERIS stock opened at $235.67 on Monday. STERIS plc has a 1-year low of $200.98 and a 1-year high of $253.00. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 36.09 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $244.33 and a 200 day simple moving average of $235.97.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data 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. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $2.03 EPS. STERIS's revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a dividend of $0.63 per share. This is an increase from STERIS's previous quarterly dividend of $0.57. The ex-dividend date was Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. STERIS's dividend payout ratio (DPR) is presently 38.59%.

Insider Activity

In other news, CEO Daniel A. Carestio sold 159 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the transaction, the chief executive officer directly owned 51,096 shares in the company, valued at $12,356,034.72. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Renato Tamaro sold 3,204 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the transaction, the vice president owned 7,221 shares of the company's stock, valued at $1,799,762.04. This trade represents a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,868 shares of company stock worth $4,585,389. Company insiders own 1.07% of the company's stock.

STERIS Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding STE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STERIS plc (NYSE:STE - Free Report).

Institutional Ownership by Quarter for STERIS (NYSE:STE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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