Amundi Cuts Stock Position in STERIS plc $STE

Key Points

• Amundi has reduced its holdings in STERIS plc by 2.1% in the first quarter, owning approximately 449,568 shares worth around $99.5 million after selling 9,498 shares.
• STERIS announced a quarterly dividend increase to $0.63 per share, up from $0.57, representing an annualized dividend of $2.52 and a yield of 1.0%.
• Research analysts maintain a consensus rating of "Moderate Buy" for STERIS, with price targets ranging up to $295.00 from Morgan Stanley.

Amundi cut its stake in STERIS plc (NYSE:STE - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,568 shares of the medical equipment provider's stock after selling 9,498 shares during the quarter. Amundi owned approximately 0.46% of STERIS worth $99,539,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STE. Mercer Global Advisors Inc. ADV lifted its position in shares of STERIS by 4.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,756 shares of the medical equipment provider's stock valued at $772,000 after acquiring an additional 157 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of STERIS by 44.8% during the fourth quarter. BNP Paribas Financial Markets now owns 163,280 shares of the medical equipment provider's stock worth $33,564,000 after purchasing an additional 50,514 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in STERIS in the 4th quarter valued at $80,000. Captrust Financial Advisors raised its stake in STERIS by 65.7% in the 4th quarter. Captrust Financial Advisors now owns 16,743 shares of the medical equipment provider's stock valued at $3,442,000 after purchasing an additional 6,638 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in STERIS in the 4th quarter valued at $636,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on STE shares. JMP Securities upped their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Morgan Stanley upped their price objective 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. Jefferies Financial Group began coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Stephens reissued an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. Finally, KeyCorp upped their price target on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

STERIS Trading Up 3.5%

Shares of NYSE STE traded up $8.50 during midday trading on Thursday, reaching $252.33. 758,380 shares of the stock were exchanged, compared to its average volume of 445,756. The stock has a market capitalization of $24.85 billion, a P/E ratio of 38.64 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The company has a 50 day simple moving average of $237.16 and a 200 day simple moving average of $232.91. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79.

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

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. STERIS's dividend payout ratio is currently 38.59%.

Insider Activity at STERIS

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cynthia L. Feldmann sold 3,495 shares of STERIS stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the sale, the director owned 705 shares of the company's stock, valued at approximately $170,299.80. This represents a 83.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,709 shares of company stock worth $4,546,940. 1.07% of the stock is owned by corporate 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.