Assenagon Asset Management S.A. Raises Stock Holdings in STERIS plc $STE

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in STERIS plc by 1,251.9% during Q2, owning approximately $19.6 million worth of shares as of its latest SEC filing.
• STERIS recently increased its quarterly dividend to $0.63 per share, marking a rise from the previous $0.57 and reflecting a dividend yield of 1.0%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for STERIS, with price targets as high as $295 from Morgan Stanley.

Assenagon Asset Management S.A. grew its stake in STERIS plc (NYSE:STE - Free Report) by 1,251.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,521 shares of the medical equipment provider's stock after buying an additional 75,491 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of STERIS worth $19,583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STE. Park Edge Advisors LLC boosted its stake in STERIS by 1.0% during the first quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock valued at $1,067,000 after buying an additional 47 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in STERIS by 3.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider's stock valued at $365,000 after buying an additional 54 shares during the last quarter. Blue Trust Inc. boosted its stake in STERIS by 16.5% during the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after buying an additional 56 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in STERIS by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock valued at $1,423,000 after buying an additional 62 shares during the last quarter. Finally, West Coast Financial LLC boosted its stake in STERIS by 3.9% during the first quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock valued at $376,000 after buying an additional 63 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

STERIS Stock Up 0.4%

STERIS stock opened at $249.79 on Tuesday. 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 capitalization of $24.60 billion, a price-to-earnings ratio of 38.25 and a beta of 0.95. STERIS plc has a 1-year low of $200.98 and a 1-year high of $253.00. The business has a fifty day moving average price of $239.66 and a 200-day moving average price of $234.19.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. Equities research analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

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

Insider Buying and Selling

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of STERIS stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the transaction, the chief accounting officer owned 5,994 shares in the company, valued at approximately $1,448,929.62. This trade represents a 56.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $844,252.20. Following the completion of the transaction, the director owned 705 shares of the company's stock, valued at approximately $170,299.80. This represents a 83.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,709 shares of company stock worth $4,546,940. Corporate insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STE. Morgan Stanley increased their price target on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. KeyCorp upped their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Jefferies Financial Group started coverage on STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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