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

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of STERIS by 0.4% in the first 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 increased its stake 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 buying an additional 452,146 shares during the last quarter. Generation Investment Management LLP lifted its position in STERIS by 5.4% during the 1st 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. Select Equity Group L.P. boosted its stake in shares of STERIS by 165.3% during the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after buying an additional 1,619,796 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new position in shares of STERIS during the 1st quarter worth about $349,950,000. 94.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STE shares. Morgan Stanley increased their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Jefferies Financial Group initiated coverage on shares of STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 price target on the stock. KeyCorp lifted their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Citigroup restated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, Stephens reiterated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $273.50.

Insider Transactions at STERIS

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the firm's 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 transaction, the director directly owned 705 shares of the company's stock, valued at approximately $170,299.80. This trade represents a 83.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mohsen Sohi sold 4,110 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the sale, the director directly owned 22,361 shares of the company's stock, valued at $5,410,467.56. This represents a 15.53% 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 over the last quarter. 1.07% of the stock is currently owned by corporate insiders.

STERIS Stock Performance

Shares of STE traded up $0.32 during trading hours on Tuesday, hitting $248.64. The company had a trading volume of 396,163 shares, compared to its average volume of 590,206. The business has a fifty day moving average of $236.74 and a 200-day moving average of $232.63. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 38.08 and a beta of 0.95. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The business had revenue of $1.40 billion for 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 quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 EPS. Equities analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be given 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 (DPR) is 38.59%.

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.