AMF Tjanstepension AB Purchases New Position in STERIS plc $STE

Key Points

• AMF Tjanstepension AB has acquired a new stake in STERIS plc, purchasing 69,035 shares valued at approximately $16.6 million, now owning about 0.07% of the company.
• In the latest analyst reports, KeyCorp and Morgan Stanley have raised their target prices for STERIS, with the latter setting a price target of $295.00.
• STERIS recently announced an increase in its quarterly dividend to $0.63 per share, up from $0.57, reflecting a commitment to returning value to shareholders.

AMF Tjanstepension AB purchased a new stake in shares of STERIS plc (NYSE:STE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 69,035 shares of the medical equipment provider's stock, valued at approximately $16,587,000. AMF Tjanstepension AB owned approximately 0.07% of STERIS at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. lifted its stake in shares of STERIS by 122.5% during the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock valued at $642,000 after buying an additional 1,559 shares in the last quarter. Foresight Group Ltd Liability Partnership purchased a new stake in shares of STERIS during the 1st quarter valued at approximately $25,958,000. Allianz Asset Management GmbH lifted its stake in STERIS by 31.9% in the 1st quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider's stock worth $23,229,000 after purchasing an additional 24,809 shares in the last quarter. Ascent Group LLC purchased a new stake in STERIS in the 1st quarter worth approximately $261,000. Finally, Dynamic Advisor Solutions LLC lifted its stake in STERIS by 23.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after purchasing an additional 230 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on STE. KeyCorp increased their target price 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. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. 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 research note on Friday, August 8th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of STERIS in a research note on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, STERIS currently has an average rating of "Moderate Buy" and an average price target of $273.50.

Insider Buying and Selling at STERIS

In related news, Director Mohsen Sohi sold 4,110 shares of the 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 transaction, the director 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Renato Tamaro sold 3,204 shares of the 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 directly owned 7,221 shares in the company, valued at approximately $1,799,762.04. This represents a 30.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,709 shares of company stock worth $4,546,940 in the last quarter. 1.07% of the stock is currently owned by company insiders.

STERIS Price Performance

Shares of NYSE:STE opened at $242.54 on Friday. The company's fifty day moving average price is $243.08 and its 200-day moving average price is $235.22. The firm has a market capitalization of $23.89 billion, a price-to-earnings ratio of 37.14 and a beta of 1.01. STERIS plc has a one year low of $200.98 and a one year high of $253.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53.

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

STERIS Increases Dividend

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

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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