BDF Gestion Decreases Holdings in STERIS plc $STE

Key Points

• BDF Gestion has decreased its holdings in STERIS plc by 9.8%, now owning 9,610 shares worth approximately $2.3 million.
• STERIS recently announced a quarterly dividend increase to $0.63 per share, representing an annual yield of 1.0% and a current payout ratio of 38.59%.
• Major investment firms like Vanguard and UBS have increased their stakes in STERIS, reflecting strong institutional interest as 94.69% of the stock is owned by hedge funds and other investors.

BDF Gestion cut its stake in STERIS plc (NYSE:STE - Free Report) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,610 shares of the medical equipment provider's stock after selling 1,049 shares during the quarter. BDF Gestion's holdings in STERIS were worth $2,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in STERIS by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock valued at $2,710,247,000 after purchasing an additional 46,628 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of STERIS by 9.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after buying an additional 452,146 shares in the last quarter. Generation Investment Management LLP lifted its stake in shares of 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 purchased a new position in STERIS in the 1st quarter worth approximately $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in STERIS by 55.2% in 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 worth $344,617,000 after purchasing an additional 540,999 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Down 0.7%

Shares of NYSE STE opened at $248.71 on Friday. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of 38.09 and a beta of 0.95. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. STERIS plc has a 52-week low of $200.98 and a 52-week high of $253.00. The business's 50 day moving average is $239.18 and its two-hundred day moving average is $234.01.

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 (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 EPS. Research analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

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

Insider Buying and Selling at STERIS

In other news, VP Renato Tamaro sold 3,204 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the sale, the vice president owned 7,221 shares of the company's stock, valued at approximately $1,799,762.04. This represents a 30.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia L. Feldmann sold 3,495 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.56, for a total value of $844,252.20. Following the sale, the director directly owned 705 shares in the company, valued at $170,299.80. This represents a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,709 shares of company stock valued at $4,546,940 in the last 90 days. Corporate insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on STE. Morgan Stanley raised 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. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Jefferies Financial Group started coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price target on the stock. Finally, KeyCorp lifted their price target on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $273.50.

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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