BNP Paribas Financial Markets Purchases 18,640 Shares of STERIS plc $STE

Key Points

• BNP Paribas Financial Markets increased its stake in STERIS plc by 11.4%, owning approximately 181,920 shares valued at $41.2 million as of the end of the first quarter.
• STERIS recently announced a dividend increase from $0.57 to $0.63 per share, reflecting an annualized yield of 1.0% and a payout ratio of 34.92%.
• Several hedge funds, including AQR Capital Management and Schonfeld Strategic Advisors, significantly boosted their STERIS holdings in the last quarter, indicating increased institutional interest in the stock.

BNP Paribas Financial Markets lifted its position in STERIS plc (NYSE:STE - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,920 shares of the medical equipment provider's stock after acquiring an additional 18,640 shares during the quarter. BNP Paribas Financial Markets owned 0.19% of STERIS worth $41,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STE. Vanguard Group Inc. raised its stake in shares of STERIS by 0.4% during the first 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 holdings in shares of STERIS by 9.1% during the first 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 purchasing an additional 452,146 shares during the last quarter. Select Equity Group L.P. lifted its holdings in shares of STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock valued at $534,400,000 after purchasing an additional 1,619,796 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of STERIS by 2.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,295,275 shares of the medical equipment provider's stock valued at $293,574,000 after purchasing an additional 33,348 shares during the last quarter. Finally, Northern Trust Corp raised its position in STERIS by 5.8% during the first quarter. Northern Trust Corp now owns 1,283,560 shares of the medical equipment provider's stock valued at $290,919,000 after buying an additional 70,523 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

NYSE:STE traded up $1.65 during mid-day trading on Friday, hitting $245.04. 208,081 shares of the company's stock traded hands, compared to its average volume of 588,451. The firm has a 50 day moving average of $236.32 and a two-hundred day moving average of $232.00. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 37.54 and a beta of 0.95. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating 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 firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $2.03 EPS. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that STERIS plc will post 9.08 earnings per share 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 $0.63 dividend. The ex-dividend date is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio is 34.92%.

Insider Transactions at STERIS

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 705 shares in the company, valued at approximately $170,299.80. This trade represents a 83.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mohsen Sohi sold 4,110 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the completion of the sale, the director 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 a total of 18,709 shares of company stock worth $4,546,940 over the last 90 days. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on STE shares. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Jefferies Financial Group started coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price on the stock. Morgan Stanley upped their target price on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Stephens reaffirmed an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Six 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.