Allianz Asset Management GmbH Sells 22,136 Shares of STERIS plc $STE

Key Points

• Allianz Asset Management GmbH has reduced its stake in STERIS plc by 21.6%, selling 22,136 shares and now holding 80,352 shares valued at approximately $19.3 million.
• Multiple institutional investors, including Vanguard Group Inc. and UBS AM, have increased their positions in STERIS, reflecting strong investor interest as hedge funds and other institutions own 94.69% of the company's stock.
• STERIS recently reported positive earnings, exceeding estimates with $2.34 earnings per share and an annual revenue increase of 8.8% year-over-year, leading to a consensus target price of $273.50 among analysts.

Allianz Asset Management GmbH reduced its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 21.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,352 shares of the medical equipment provider's stock after selling 22,136 shares during the period. Allianz Asset Management GmbH owned about 0.08% of STERIS worth $19,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of STERIS by 0.4% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in STERIS by 9.1% during the first 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 purchasing an additional 452,146 shares during the period. Generation Investment Management LLP increased its position in STERIS by 5.4% in the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock worth $760,308,000 after buying an additional 170,392 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in shares of STERIS in the first quarter worth about $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of STERIS by 55.2% during 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 buying an additional 540,999 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

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

STERIS Trading Down 0.0%

STERIS stock opened at $240.25 on Monday. STERIS plc has a 1 year low of $200.98 and a 1 year high of $253.00. The firm's 50 day moving average price is $245.08 and its 200-day moving average price is $236.43. 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 stock has a market cap of $23.66 billion, a P/E ratio of 36.79 and a beta of 1.01.

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 analysts' consensus estimates of $2.32 by $0.02. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $2.03 earnings per share. On average, equities analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. STERIS's dividend payout ratio (DPR) is 38.59%.

Insider Transactions at STERIS

In related news, CEO Daniel A. Carestio sold 159 shares of the business's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $241.82, for a total value of $38,449.38. Following the sale, the chief executive officer directly owned 51,096 shares in the company, valued at approximately $12,356,034.72. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total value 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 represents a 30.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,868 shares of company stock valued at $4,585,389. 1.07% of the stock is owned by insiders.

STERIS 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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