Adage Capital Partners GP L.L.C. Has $20.33 Million Holdings in STERIS plc $STE

Key Points

• Adage Capital Partners significantly increased its stake in STERIS plc by 112.6% during Q1, now owning approximately $20.33 million worth of shares.
• Institutional investors own 94.69% of STERIS stock, indicating strong interest and confidence in the company.
• STERIS recently announced a quarterly dividend of $0.63, an increase from the previous dividend of $0.57, reflecting positive financial performance.

Adage Capital Partners GP L.L.C. lifted its position in STERIS plc (NYSE:STE - Free Report) by 112.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,686 shares of the medical equipment provider's stock after acquiring an additional 47,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of STERIS worth $20,327,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in STE. Park Edge Advisors LLC raised its stake in STERIS by 1.0% during the 1st quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock valued at $1,067,000 after acquiring an additional 47 shares in the last quarter. Blue Trust Inc. raised its stake in STERIS by 16.5% during the 1st quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after acquiring an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC raised its stake in STERIS by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock valued at $1,423,000 after acquiring an additional 62 shares in the last quarter. West Coast Financial LLC raised its stake in STERIS by 3.9% during the 1st quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock valued at $376,000 after acquiring an additional 63 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in STERIS by 0.9% during the 1st quarter. Cetera Investment Advisers now owns 6,999 shares of the medical equipment provider's stock valued at $1,586,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 94.69% of the company's stock.

Insiders Place Their Bets

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the completion of the sale, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.56, for a total value of $844,252.20. Following the completion of the sale, the director owned 705 shares of the company's stock, valued at $170,299.80. This represents a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,709 shares of company stock worth $4,546,940 in the last 90 days. 1.07% of the stock is owned by company insiders.

STERIS Stock Down 1.0%

STE stock traded down $2.41 during mid-day trading on Wednesday, hitting $245.98. The stock had a trading volume of 75,993 shares, compared to its average volume of 587,192. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The company has a fifty day moving average of $236.74 and a 200 day moving average of $232.63. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 37.73 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The business's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. On average, equities analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio is currently 38.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens reissued an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Morgan Stanley boosted their price objective on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. KeyCorp boosted their price objective on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Citigroup reissued an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, Jefferies Financial Group assumed coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company 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.